Lowry Outlet has bucked the national retail trend as it reported sales growth thanks to an experience-led approach.
Owners Lifestyle Outlets, part of Peel L&P, said the Salford Quays site achieved an 8.5 per cent year-on-year increase in sales.
The shopping destination is located a few minutes’ walk from MediaCityUK and has recently secured a long-term commitment from Vue Cinemas.
Last week, Vue opened a new big screen experience at Lowry Outlet, boasting ‘luxurious’ leather seats which have been put in all seven screens as part of a major refurbishment of the site.
Vue signed a new 20-year lease before embarking on a multimillion-pound refit.
It is anticipated that the upgraded cinema will bolster the outlet’s footfall figures by at least half a million visitors per year as more people are going to the cinema than at any time in the last 50 years.
The cinema upgrade is part of a wider leisure rejuvenation programme currently underway at Lowry Outlet.
Lifestyle Outlets is creating an additional 35,000 sq ft of new leisure space, which will supplement the new cinema.
Additionally, Lifestyle Outlets has been granted planning consent to transform the waterfront into a landmark destination, ‘The Watergardens’.
The £26m investment will deliver a new food and drinks space with the first Watergardens restaurant set to open in 2020.
Jason Pullen, managing director, Lifestyle Outlets, said: “The 8.5 per cent increase in YOY sales highlights our experience-led outlet model is outperforming the wider retail market and that consumers are placing a greater importance on a really strong leisure offering in combination with outlet shopping.
“It is great news that Vue has committed to a new 20-year lease and completed a multimillion-pound upgrade, as it complements our ongoing work to make Lowry Outlet one the city’s go-to leisure spots.
“Our investment will deliver a perfect blend of leisure and entertainment underpinned by an exciting retail offering, bringing the waterfront to life and creating a real destination of choice for Manchester. As shopping habits continue to change and leisure and entertainment facilities grow in importance, the popularity of Lifestyle Outlets will continue to thrive.”
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