A huge deal to sell designer outlet village Cheshire Oaks has reportedly been agreed.

According to the Sunday Times, LaSalle Investment Management - a subsidiary of property firm JLL, has agreed a deal with current owners Nuveen Real Estate to buy the huge Ellesmere Park retail outlet complex and also the Swindon Designer Outlet in a deal worth £600 million.

Bluewater owner Landsec were also in the running, but were beaten to it by LaSalle.

Cheshire Oaks is understood to make up the majority of the purchase price. The deal is the largest in the sector since 2014 and represents a yield of 6 per cent.

Cheshire Oaks Designer Outlet is the largest outlet centre in the UK, with 145 stores complimented by a wide variety of food and drink offerings.

It boasts a range of designer label stores, including the likes of Armani, Burberry, Michael Kors, Mulberry and Polo Ralph Lauren, attracting shoppers from all over the country.

A £1.4 million play area for children was installed at the Ellesmere Port centre in August 2021, where a number of shops are also dog-friendly.

The outlet village, which first opened in 1995, is managed by the McArthurGlen Group.

A over 400,000 square feet, it is the largest Designer Outlet Village in the UK.