Peel Outlets - Proposition Development


About the brand

Peel Land and Property Group own and manage 1.2 million sq m of property. Their holdings are concentrated in North West England but also own and manage significant assets in the Clyde, Yorkshire and the Medway in Kent, with a total portfolio value of £2.3 billion.

Land and Property lies at the heart of The Peel Group, one of the foremost real estate, infrastructure and transport investment enterprises in the UK.

Peel Outlets comprises mixed use destinations and delivering a combination of high street and premium brands across three locations – the Lowry OutletMediaCityUKGloucester Quays and an outlet development site as part of our Glasgow Harbour scheme.

Gloucester Quays

The Challenge/Task

FSP’s long term client Peel required support to  set out its lifestyle-based outlet centre proposition across its sites in the UK. To do this, the operator wished to articulate its  strategy in order to be able to market it to investors and secure capital. To aid Peel, FSP introduced them to Pragma.


  • Examined and detailed the outlet centre industry across Europe, and in the UK specifically, with a focus on growth rates, the key operators and investors and market dynamics
  • Identified key consumer trends in the market and highlighted key opportunities for future development of outlet centres
  • Assessed the key outlet brands in Europe as well as the strategies adopted by them in the sector, and developed a choice driver hierarchy for when they are taking space
  • Used the results of a number of outlet centre site visits to document key learnings to support the client’s strategy and validated and presented Lifestyle Outlets’ asset management strategy to provide an investor-focused document
  • Examined the client’s key sites in depth, and reviewed their catchment analysis, consumer segmentation and phased tenant mix optimisation
  • Developed a working Asset Management Model which assesses performance relative to tenant mix strategy. The client was provided with a focused document that validated and presented their asset management strategy. The client was thus able to market its plans to the investor community, with independent validation

The Result

Pragma was commissioned to assess, validate and present the strategy in a format that would be presented to key stakeholders, the investment community and the wider property market. FSP supported Pragma by providing its expert advice on the outlet industry.