Outlet centres developed strongly between the 1980s and the 2000s, first in the United Kingdom and then in the rest of Europe. The boom was caused by a favourable economic context: In times of crisis, individuals are inclined to consume at a lower price. As a destination store “par excellence”, the factory outlet is distinguished from other retail assets by its conversion rate and a larger shopping cart: customers go there less often than shopping centres but almost always spend much more. They most often include the same major international brands. Investors and developers alike are paying greater attention to the aesthetics of outlet centres and environmental quality. While the first outlet centres were mainly located in industrial zones or on the outskirts of major urban areas, new-generation outlet centres are set up close to sites with high tourist potential that maximise the influx of customers. Often dedicated to luxury brands, they become real stops in the circuits offered by tour operators.

The outlet centre derives its profitability from the fact that it is a niche product. It is often sought out as a part of portfolio diversification strategies. Investors generally entrust the management of this specific asset to specialised operators such as Concept & Distribution, Value Retail, etc. There are only few transactions. The expected yield on factory shops is between 5.25 and 6.50%.

The outlet centre derives its profitability from the fact that it is a niche product. It is often sought out as a part of portfolio diversification strategies. Investors generally entrust the management of this specific asset to specialised operators such as Concept & Distribution, Value Retail, etc. There are only few transactions. The expected yield on factory shops is between 5.25 and 6.50%.