LONDON — McArthurGlen’s designer outlets are rapidly coming out of lockdown, with 18 out of 25 having reopened — with lower rents and charges to pay.
The company said eight countries are open for business, with more than 2,000 stores from 90 percent of the McArthurGlen’s brands trading once again.
McArthurGlen said from April 1 to June 30 it was waiving all base rent, turnover-based rent and marketing charges for any centers that have been, or still are, closed. After a center reopens, the company has been waiving all minimum base rent.
From July through the end of the year, the company said it will charge either turnover rent or a “much-reduced” minimum base rent, whichever is greater.
Company chairman J.W. “Joey” Kaempfer Jr. said he wanted to do something to help brands at the outlet centers through the crisis. “This has always been a partnership. We hope that by providing this significant economic support to our brands, we can contribute to a faster recovery of our mutual business.”
The designer outlet in Parndorf, Austria, reopened on April 17, followed by McArthurGlen’s northern European sites, France and Belgium. Italy, Greece and Vancouver opened earlier this month, while the U.K. and Spain are set to unlock in the coming weeks.
The company said safety measures were in place, while cleaning schedules and security measures have been increased. Hand sanitizers, masks and gloves have also been made available in all centers.
The company confirmed that two new outlet centers are currently under construction: Paris-Giverny, which is 50 miles west of Paris (and the hometown of Claude Monet), and West Midlands, half an hour north of Birmingham, England.
Value Retail’s nine European locations within the Bicester Village Shopping Collection do not have to pay anything in the April to June period, even though many sites have already reopened. The company’s Shanghai and Suzhou Villages in China were not charged while they were closed earlier this year.