Plans for the London Designer Outlet are set to be unveiled by developers Quintain next month, with an opening date slated for the following month.
The 350,000 sq ft development is expected to emulate the success of centres outside London such as Cheshire Oaks, Gunwharf Quays in Portsmouth, and Bicester Village, which sell end-of-season products at discounted prices. The project could be considered a gamble given that the centre is located next to Wembley Stadium and is more than 10 miles from the centre of London.
The operators believe it will benefit from the 4m annual visitors to the stadium, an under-served local population, and the fact it will be London’s only outlet village.
James Sanders, chief operating officer at Quintain, said: "London has plenty of standard shopping centres. We are three miles from Brent Cross and five miles from Westfield. It didn’t need another standard shopping centre."
The London Designer Outlet is more than 70pc let, with just one of the 15 restaurant units left and a handful of the 70 retail units.
The retailers to open at the centre will include the biggest outlet store from Marks & Spencer, which is also the company’s first store in the London borough of Brent for 25 years.
The other companies include Nike, Gap, LK Bennett, Superdry, Adidas, and Asics while the London Designer Outlet will also introduce quality branded coffee shops to the Wembley area.
"We are reintroducing quality brands that Wembley hasn’t had," Mr Saunders said. "We think we will have best run of sports shops in the UK."
Mr Saunders hopes that the restaurants and Cineworld cinema at the outlet will encourage sports fans to stay in Wembley longer, rather than getting in and out of the stadium area as quickly as possible, as has been the case in the past.
"We expect to serve people coming early and leaving late," he explains.
Designer outlets have proved popular with cash-strapped shoppers since the financial crisis, but are also an attractive way for retailers to offload unwanted stock.
They have proved popular with tourists too. Bicester Village is the most visited attraction outside the capital for Chinese tourists, lured by the prospect of luxury products at bargain prices. International tourists account for 65pc of shoppers at Bicester, which is run by Value Retail and sells brands such as Alexander McQueen, Armani, Gucci and Lacoste.
Cheshire Oaks, at Ellesmere Port, is also popular with the Chinese, with sales to visitors from that country up 20pc.
Opened by McArthurGlen in 1995, it was the first designer outlet in Europe and claims to have more than 145 boutiques and restaurants, making it the UK’s biggest such outlet. McArthurGlen now has seven in the UK, including a site at Livingston in Scotland and an outlet at Bridgend in Wales.
"There will be more in London," Mr Saunders said "We are proud to be called the London Designer Outlet."
Local, loyal market goers could see the end of Wembley Market if it doesn’t find a new home, which has been running for over 40 years.
There will be only 14 more Wembley market dates until it leaves Wembley Stadium for good. Wembley Market’s owners will try to find another location nearby.
One of the negative stalwarts of Wembley Market has been its counterfeit clothing problem, with some traders constantly breaking the law.
Quintain Estates and Brent Council have been planning to fill the void aroundWembley Stadium for over a decade. The absence of Wembley Market around the Stadium will be filled in by the impressive London Designer Outlet (Wembley LDO).
Due to open In less than six months, the 350,000 sq ft centre will be London’s first designer outlet. The mixed use development consists retail and leisure, including a nine-screen Cineworld. Wembley LDO is adjacent to Wembley Stadium, Wembley Arena and a four-star Hilton hotel, which opened last July.
This will address the thriftiness of Wembley market but with the aim of bringing aspirational brands to Wembley at Bicester Village prices .
If you would like to say goodbye to Wembley market, do so in the comments or on our Facebook page. Only fourteen more Wembley Stadium Market days left, it’s sad, I know. The countdown begins.