Strong sales growth at retail centre as shoppers embrace ‘full day-out experience’

One of the South West’s largest retail schemes has recorded bumper 12-month sales as it continues to defy the gloom on UK high streets.

Sales across all stores at Gloucester Quays were up by an average of 6% during the past financial year, with owner Peel Retail & Leisure saying those that invested in new shop fits and renewed leases in particular benefitted from growth.

It also hailed its strong mix of retail and food-and-drink occupiers, which gave visitors a “full day-out experience” at the 50-outlet centre, which opened 16 years ago next to the town’s historic docks.

The figure for the period April 2024 to March this year follows a record increase of 11% in the previous 12 months, showing consistent performance and sustained growth at the outlet, said Peel. Over the same period, UK retail sales growth averaged around 2%.

Sales from current tenants were up by 5%, with leading homeware brand Le Creuset, footwear retailer Skechers and outdoor specialist Mountain Warehouse, as well as Hallmark, Raging Bull and Holland & Barrett examples of those that invested in their stores and benefitted from increased performance.

Gloucester Quays’ current hospitality brands also attracted a significant sales increase, 7% up on the previous financial year.

Double-digit growth for local favourite Anatolian Palace and national powerhouse Nando’s helped to propel sales in the category, with Peel saying visitors to the outlet continued to enjoy “the full day-out experience” created by its “unmatched balance of popular fashion and retail at accessible prices and vast array of sit-down dining and grab-and-go options”.

Paul Carter, asset director at Peel Retail & Leisure, said: “Gloucester Quays has driven sustained growth year-on-year, a legacy that reinforces our long-standing commitment to providing a best-in-class experience.

“We are continuing to adapt to evolving consumer demand for lifestyle-led spaces, something we are uniquely able to deliver as a destination that crosses between both city centre convenience and aspirational outlet.

“With recently reinvested brands topping the books for growth alongside our new additions, the success of our tried and tested strategy for delivering this speaks for itself.”

Eight tenants have also recommitted to the centre this year, including Trespass, Puma, Adidas, and The North Face.

Gloucester Quays is one of eight retail destinations owned by Peel Retail & Leisure. Its portfolio also includes Yeovil Retail Park.