Retail Property - McArthurGlen opens second Italian village

Outlet mall developer McArthurGlen has opened its second Italian village, at Castel Romano, 25km south of Rome.

Developed at a cost of EUR70 million (£49.5 million), the 215,000 sq ft (19,975 sq m) outlet village was 85 per cent pre-let on opening day.

The 95 stores in the village's first phase include designer names such as Calvin Klein Jeans, Dolce & Gabbana, Nike, Sergio Tacchini, Versace, La Perla, Guess and Etro.

McArthurGlen developed the first purpose-built outlet in Italy at Serravalle, south of Milan, in 2000. It has 145 stores across 375,000 sq ft (34,835 sq m) and, according to McArthurGlen chief executive Joey Kaempfer, attracts 3 million visitors a year.

However, Kaempfer said he believes Castel Romano could do even better, potentially attracting 5 million visits a year from the 2.7 million Romans and the 8 million tourists who visit the city each year.

McArthurGlen plans two further Italian outlet villages, at Barberino di Mugello, just north of Florence, and Padova Conselve, south of Venice.