AEG explores retail outlet proposition

AEG and Land Securities enter talks over retail complex at The O2
AEG and Land Securities enter talks over retail complex at The O2

AEG Europe has signed a six-month contract with property company Land Securities to negotiate options for a luxury retail outlet within The O2 complex.

Land Securities confirmed today that talks between the two companies incorporated the joint development of a designer retail outlet at the London event venue.

The company could not confirm whether the new development would be used for events.

Greenwich Council has agreed planning permission for more than 21,000 sqm of retail floor space, which includes vacant space on the ground floor as well as an unused balcony in The O2.

Alistair Wood, senior vice president of real estate and development for AEG, said: "We are strongly of the view that a well executed and positioned designer outlet village could further drive the huge success enjoyed to date at The O2. We welcome Land Securities on board as our potential partner, who we believe to be an ideal match in terms of their track records and skill sets."

In January 2013, AEG revealed it was building a riverfront hotel next to The O2 in a joint venture with Arora and Queensgate Investment.

The company’s stand-alone affiliate AEG Facilities gained formal approval last September from the UK Competition Commission to run Wembley Arena, which was previously operated by Live Nation Entertainment.

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