Henderson’s European Outlet Mall Fund has bought Barberino designer outlet village in Italy from McArthurGlen for €125m (£111.9)

Henderson Global Investors’ European Outlet Mall Fund, has bought McArthurGlen’s Barberino designer outlet village in Florence, Italy for around €125m (£111.9m) for phase one.

Barberino Designer Outlet, to the north of Florence opened in March 2006, currently has around 231,426 sq ft (21,500 sq m) with more than 100 tenants including the likes of D&G, Polo Ralph Lauren, Prada, Roberto Cavalli and Richmond. Phase two of the outlet will open in 2010, increasing lettable area to 64,584 sq ft (6,000 sq m).

The fund now owns nine European outlet malls located in France, Italy, Austria, the Netherlands, Belgium and Germany as well as three UK outlets indirectly, with an overall portfolio valued at approximately €1.2bn (£0.89m).

Eleven of the 12 properties were purchased from McArthurGlen Group.

McArthurGlen manages all the assets in the fund’s portfolio.

David Williams, the manager of the European Outlet Mall Fund, said: ‘Outlet malls and other discount-led operators are performing robustly into the downturn as people are more careful with their discretionary income.’