Massive upmarket shopping opportunity

1.6 million square foot ’shopping theatre’ to open in London

Despite the credit cruch and its effect on retail spending, an Australian developer will open Europe’s biggest inner-city mall in two weeks in West London, named Westfield London.

Developers remain positive despite the tough times, saying “Even through the past few months, the London retail market has shown how resilient it is, relative to the rest of the country.”

Throughout the centre, there is an upmarket feel. The classic food court has been replaced by a theatrical dining area. McDonald’s and Pizza Hut have been banned, and polystyrene cartons, paper plates and cups have been replaced with real crockery.

Have the developers pitched the centre too far upmarket? They think not: “There’s something here for everyone and all the high street brands are here.” Indeed, Marks & Spencer has been joined by Debenhams, Next, House of Fraser and Waitrose, each of which will anchor a corner of the centre.

When Boris Johnson, the London Mayor, opens the centre on October 30, it will be “virtually full”, up from 96 per cent leased in August, with more than 265 retailers and 50 eateries.

The Westfield Group will not name a value for the project, which has cost £1.7 billion to develop, until it updates the Australian stock market in November.

But they are not going to stop there - even before this palace of shopping is open, Westfield have started work on an even bigger shopping centre in East London.

Clearly there is plenty of life left in retail yet. If you want to beat the credit crunch and grab yourself a bargain, then be wise and shop around. Browse around these pages for designer brands discounted at incredible prices. www.designerdiscounts.co.uk.