Factory outlet specialist Pantheon Retail has signed a joint venture agreement with Kenmore Property Group and Revcap for a scheme in Gironde, in the south of France.
The funding deal will allow work to start on ‘Parc du Cubzac’ development to the north of Bordeux. The development is currently 20% let with a further 30% of letting commitments.
The first phase will comprise 140,500 sq ft of shops with the total development to comprise 360,500 sq ft of space to include 130 shops, four cafes and restaurants and a visitor centre.
Kenmore is already developing an outlet scheme in Germany - the Zweibrucken Factory Outlet Centre. 25 km north of Bordeaux
Pantheon Retail is a factory outlet specialist and asset manager, and manages schemes such as Castel Guelfo outlet near Bologna and Roncade Outlet Gallery near Venice. Revcap is a European real estate co-investor.
Francois Moss, head of development for Pantheon: said: ‘After lengthy approval processes in France, the agreement with Kenmore and Revcap finally gives us the go ahead to commence work on this very exciting and unique project.’