Princes Quay to reposition as outlet and full-price concept

Hull’s Princes Quay shopping centre is to reposition itself as the UK’s first full price and outlet hybrid concept as part of a 20 million pound redevelopment scheme that will create a new urban centre.

The investment will see the 300,000 square foot space producing a new urban concept centre that will combine the existing shopping, cinema and dining offer, with a new outlet shopping centre and new restaurants, set against the attractive waterfront setting.

The project has been created by fund managers Seven Dials and Realm, and will mark the first time in the UK that outlet retailing has been combined under one roof with full price retailing.

The repositioning will introduce 24 new shops spanning 51,000 square foot, with developers stating that 55 percent of the new outlet mall has already been let with Next confirmed to be an anchor tenant, opening an 11,000 square foot store.

In addition to the Outlet Deck there will also be a Harbour Deck dining hub with seven additional restaurants and cafes.

Princes Quay is already home to a host of fashion names including Primark, Topshop, Monsoon, JD Sports, Foot Locker, Claire’s and River Island, as well as having a 10-screen Vue Cinema, and a 900 space multi-storey car park.

Realm managing director, Colin Brooks, said: “The introduction of an outlet mall into an existing City Centre shopping scheme is a first for the UK. We believe this innovative combination of outlet retail, full price shopping, cinema and enlarged and improved food and beverage offer will further heighten the consumer appeal of the scheme, which already enjoys an annual and rising footfall of five million customers.

“This initiative comes on the back of the growing trend towards urban outlet retail. If the full price / outlet retail hybrid is successful and delivers the anticipated footfall increases we are expecting, it could be an interesting model for urban regeneration elsewhere.”

The work on the shopping centre started in October and will continue until next summer with Princes Quay remaining open during the refurbishment.

The move is part of a major regeneration scheme for Hull tying in with the city’s status as European City of Culture 2017. This includes 25 million pounds of public realm works currently underway across the city centre, together with the new 3,500 capacity music and events venue which is under construction on land immediately adjoining Princes Quay.

Image: Realm