Land Securities has entered discussions with the owners of the 02 Arena in London to open a luxury designer outlet at the venue. Retail Week takes a look at the proposals.

  • Land Securities is in talks with O2 Arena owner AEG Europe to discuss options to jointly develop an area of the site for retail. The duo have signed a six month exclusivity agreement.
  • Greenwich Council has granted permission for 230,000 sq ft of retail floor space on the site. A time-scale for the development has not yet been revealed.
  • The development could host more than 110 shops as well as bars and restaurants. Existing leisure tenants already on site are expected to be rolled into the joint venture.
  • Land Securities and AEG hope to attract luxury brands including Louis Vuitton, Dolce & Gabana, Burberry and Dior.
  • Retailers would open on the ground floor and an unused balcony on an upper level originally planned as a ‘super-casino’ in the O2’s original incarnation as the Millennium Dome.
  • The development could rival luxury outlet site Bicester Village in Oxfordshire as well as east London shopping centre Westfield Stratford, Canary Wharf, the West End and the London Outlet Village at Wembley, which opened last year.
  • The development falls outside a geographical exclusivity agreement Bicester owner Value Retail asks its retailers to sign preventing them from opening outlet stores within a certain distance.
  • The O2 already hosts restaurant chains including Pizza Express and Nando’s and stages some of the world’s biggest musicians and comedians including Beyonce, Elton John and Peter Kay.

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Land Securities in talks to open luxury outlet centre in O2 Arena