Land Securities eyes O2 Arena project as it plans to open new designer outlet village

By Daily Mail City & Finance

Updated: 17:32 EDT, 6 January 2014

Land Securities is planning to open a designer outlet village at the O2 Arena in Greenwich.

The FTSE 100 property giant, Britain’s largest developer, is in talks with O2 owner AEG Europe, one of the world’s largest concert promoters.

They hope to develop a luxury shopping centre in an unused part of the former Millennium Dome in South East London to rival the upmarket Bicester Village in Oxfordshire.

Projects: The O2 Arena in Greenwich, London

The scheme could attract leading fashion houses such as Burberry, Dior, Louis Vuitton and Dolce & Gabbana, turning the O2 into the destination of choice during the day and night.

A number of restaurants and shops already exist around the main concert arena at the O2 and if a deal is agreed it is expected that they will be included in the joint venture.

Land Securities shares rose 2.5p to 961.5p.

Balfour Beatty (up 3.4p to 293.5p) yesterday won a £154million contract to get London’s 2012 Olympic Stadium ready for the Rugby World Cup.

The venue will host five matches during the tournament in 2015 and will become the permanent home of West Ham United FC from 2016.