Airports operator BAA will next month open the final phase in what it claims is the 'best retail estate in the world'.
The conclusion of the development at Heathrow's Terminal 3 will bring retail space to a total of 7,895 sq m. Altogether, BAA has invested£170 million and a further£50 million has come from retailers.
BAA group retail director Brian Collie said: 'Terminal 3 is the best retail location in the world and delivers densities of over£4,000 per sq ft (£43,040 per sq m).'
All the space in the extension has been pre-let, including three first-time ventures into airport retailing - Dior, Paul Smith and Gucci.
Collie argued that the passenger mix, flying to the Middle East and US destinations as well as to Europe, is ideal for such luxury brands. A fashion coup was Pringle's decision to open its first UK store at Terminal 3, ahead of its Bond Street outlet.
'Many people don't have convenient access to central London to shop for luxury brands and are choosing to buy at the airport,' claimed Collie.
Despite a fall in US passenger numbers, traditionally among the highest spenders, there was growth of 9 per cent for the first nine months of last year.
Perversely, September 11 has helped airport retail. 'People are coming to airports earlier, increasing dwell-time,' said Collie. Also, low-cost airlines have moved in to take up the capacity slack left by cancelled transatlantic flights.
Around 18 million passengers pass through Terminal 3 each year.
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