News

Thoughts on the latest trends and market news from our team of experts

Construction of The Village, Villefontaine well underway

With all ground works now complete the above ground construction is proceeding fast.

The centre will open on 4th April 2018 with a brand profile that will ensure its regional dominance on the outlet market.

Acienda Designer Outlet, Philippines

Construction of Acienda Designer Outlet, the Philippines starts December 2016 – well on track for scheduled opening date

Freeport A’ Famosa

Freeport A’famosa Outlet celebrates its first year of trading with 3 million visitors and the 2017 Chinese New Year.

Jayden Lewis joins Freeport as Leasing Manager Asia

Jayden has many years’ experience in the retail world was responsible for Adidas in The Philippines for 4 years.

Jayden is based at Freeport in Kuala Lumpur is focusing on the Acienda Designer Outlet in The Philippines.

Ringsted Outlet Copenhagen

Ringsted Outlet Copenhagen saw another record year in trade with footfall and turnover up 15%.

The outlet has further strengthened its position as the outlet of choice for brands and consumers and has seen 105% growth in turnover since Freeport took over the management in 2012.

Freeport A’ Famosa

Freeport Retail delivers a new outlet center, Freeport A’ Famosa, 100 percent leased, in shopper-dense Malaysia.

When Malaysia’s deputy prime minister Datuk Seri Dr Ahmad Zahid Hamidi officially opened Freeport A’ Famosa Outlet on Jan. 28, the 180,000-sf center had actually been open for two months and had already been visited by more than 650,000 shoppers.

See here the article from International Outlet Journal.

David Swann – In Memoriam

David Swann

It is with great sadness we report the passing of David Swann on 29th January 2016 at the age of 75.

David Swann was one of the founder Directors of Freeport plc and could lay claim to have been one of the founders of the European outlet industry.

He was a trained architect and was the Chief Architect at Debenhams before turning his entrepreneurial flair to the real estate development world. Although he retired from Freeport plc in 2000, he remained very active in the outlet market and was still pursuing a number of projects at his death.

His ready smile and charm will be much missed by his many friends. He leaves a widow, Edna and a son, Lyndon.

Freeport at Bloomberg

7th March 2013: Iestyn Roberts speaks to Bloomberg
(click image to see video)

International tenants flock to Freeport’s expanded outlet centre in Lisbon

Freeport, the retail outlet operating unit of Carlyle Europe Real Estate, has reached almost 100% occupancy at its Alcochete outlet retail centre near Lisbon following the completion of a new extension that is due to open today. International retailers including Helly Hansen, Claire’s, PreNatal and Dockers have signed up to eight of the 10 new units, the company´s CEO Iestyn Roberts told PropertyEU.

´Tenant demand for our outlet centre has been very strong,’ he noted. ‘Portugal is not an easy retail market at the moment and spending cuts are biting significantly. But in December we saw 10% more customers.’

The extension at the Alcochete centre adds a further 1,500 m2 of gross lettable area (GLA), increasing the total GLA dedicated to retail to almost 43,000 m2 and occupancy to 98%. The remaining two units are currently under offer.

Freeport claims its Alcochete centre is the largest of its kind in Europe with over 140 shops plus 20 restaurants and restaurants and a major exhibition space. It is located in Alcochete, close to the centre of Lisbon, near the Vasco da Gama bridge on the south side of the river Tejo. In addition to Portugal, Freeport owns outlet centres in the Czech Republic, and Sweden.

In total, Freeport owns 114,700 m2 of outlet space across these three countries and has an additional 45,000 m2 in development in France and Germany. The company also manages another 14,000 m2 of retail space on behalf of other owners. Following the launch of Freeport Retail late last year, the company is seeking to expand its asset management and consultancy services to developers, investors and asset owners in the retail sector internationally.

While declining to give details, Roberts said Freeport has seen its revenue and profitability increase each year since its acquisition by US private equity group Carlyle in 2007. The London-based operator reported a record 22% increase in net income in the year ended June 2011, largely as a result of asset management initiatives which increased occupancy levels in virtually all of its operated outlet centres. Average occupancy across the portfolio stands at over 98%, with Kungsbacka in Sweden having reported the strongest income growth over the past 12 months, up 35% year-on-year.

Carlyle Europe Real Estate has six units cross Europe in Frankfurt, London, Madrid, Milan, Paris and Stockholm which advise three Luxemburg based European property funds - Carlyle Europe Real Estate Partners I-II. The total value of the funds’ assets under management amount to EUR 3.4 bn. The Carlyle Group closed its first property fund in the US in 1997 and has since then been a sponsor for another 10 property funds in the US Europe, Asia and Latin America. The total value of assets under management amounts to $11 bn (EUR 8.4 bn).

Middle Eastern SWF refinances Carlyle's Freeport subsidiary

GLOBAL – Carlyle Group has successfully refinanced its subsidiary Freeport, saying that the assets had been provided by a sovereign wealth fund "based in the Middle East".

Freeport, part of Carlyle Europe Real Estate, also announced that it has created a new entity, with Freeport Retail providing outsourced asset management services.

Freeport Retail has already assumed management of a centre in the Danish capital of Copenhagen – the Ringsted Outlet jointly owned by TK Development and the Miller Group – with Freeport's chief executive Iestyn Roberts saying it would allow the company to "grow income for other investors using the same expertise".

Addressing the refinancing of Freeport, Carlyle European Real Estate managing director Robert Hodges said: "The new investment we have secured for Freeport underpins its strong position in the European outlet mall sector.

"We see the creation of Freeport Retail as offering a valuable new service to capitalise on this expertise as we explore further investment opportunities across Europe."

A number of sovereign wealth funds could the source of refinancing, with the Qatari scheme's real estate subsidiary Qatari Diar recently outbidding the UK's Wellcome Trust to acquire a £557m (€646m) stake in the London Olympic Village.

Other potential investors include the Abu Dhabi Investment Authority, the second-largest institutional investor behind Japan's Government Pension Investment Fund and the Kuwait Investment Authority.

Freeport sponsor MAGDUS

Chris Milliken and Iestyn Roberts were among the speakers at 2012's Magdus colloquium in Troyes.
(Scanned from publications and copied from internet)

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