An incredible new shopping village is set to open in England next year, bringing together a slew of popular and familiar brands to create a go-to retail destination. It will be located just off a busy UK motorway, and its connectivity should allow it to become a top shopping spot for towns and cities in the region. Scotch Corner Designer Village will be located at the junction of the A1(M) and A66 in North Yorkshire.

The project is slated to be worth a whopping £169million and will span an impressive 182,500 square feet. Several big-name brands are set to open up stores in the village, which will be the largest of its kind in the North of England. In total, there will be 73 shops, as well as several restaurants and cafes. Familiar brands shoppers will be able to visit include Marks & Spencer, Jack & Jones, Radley London, Guess and Superdry. Meanwhile, big chain restaurants opening up in the Scotch Corner Designer Village include Slims Chicken, Pizza Express and Pret A Manger.

The retail village promises visitors "a refreshingly different shopping and leisure destination, one that will offer fashion, food, home and garden, wellness and entertainment - all in one place and with plenty to engage the family".

In a recent update, Scotch Corner Designer Village Holdings plc has announced its plan to apply for admission to trade on the Aquis Real Asset Market (ARAM) segment of the Aquis Stock Exchange Growth Market (AQSE).

Fundraising efforts have begun to target retail investors through RetailBook and institutional investors. Oberon Investments Limited (Oberon Capital) and Retail Book Limited (RetailBook) have been appointed by Scotch Corner to raise £25.5m of new capital.

The company seeks to issue shares at an aggregate value of £25.5m. Plus, the development land and business will be contributed to the company by the sponsor in exchange for shares at an aggregate value of £16.5m.

Ensure our latest personal finance headlines always appear at the top of your Google Search by making us a Preferred Source. Click here to activate or add us as Preferred Source in your Google search settings.

The busy junction is sure to help with footfall at the shopping village. A staggering 29 million vehicles reportedly pass the junction each year.

Once it is complete, it is expected that more than 3,000 jobs will be created. Sarah Hodkinson, leasing director at Scotch Corner Designer Village, said: "We are thrilled with the enthusiasm of both major retail brands and the local community. Dozens of high-profile brands have signed with us.

"This is a vote of confidence and a superb, good news story for the region and the whole of the North of England."

The village will offer a closer alternative experience for people in the North of England. There are over a dozen similar designer shopping villages spread across England, with popular destinations including Bicester Village and McArthurGlen Designer Outlets.

There will be 2,000 parking spaces, including EV charging points, with 250 available when fully developed.

Former Prime Minister and local MP Rishi Sunak commented: "I think this is good news for the area. The hundreds of people who will be employed there represent a huge local economic boost. Also, I think the designer outlet concept will attract shoppers from across the north of England, and that will have benefits beyond the confines of the development.

"Designer Outlet retail parks contain designer retailers selling discounted products, not everyday high street brands. Nationally, the Bicester Village outlet near Oxford has been a huge success."

Developer Simon Waterfield added: "This increased visitor time to the region is expected to boost the local economy substantially with additional tourism, overnight and longer visits. Scotch Corner Designer Village is dedicated to supporting the locality and the wider region and will feature local design talent and artisans, and provide an additional 1300 total jobs."