Frasers Group snaps up three more shopping centres
Frasers Group has acquired three more shopping centres as it grows its UK property portfolio.
The Frasers, Sports Direct and Flannels owner has confirmed the acquisition of the 600,000 sq ft Princesshay Shopping Centre in Exeter, which is home to over 60 retailers.
It has also acquired the 350,000 sq ft Fremlin Shopping Centre in Maidstone, Kent, and the 65,000 sq ft Olympus Centre retail park in the Quedgeley area of Gloucester.
The Fremlin Walk Shopping Centre is currently undergoing extensive refurbishment ahead of the opening of a multi-brand 70,000 sq ft Frasers flagship store, which will become the shopping centre’s new focal point. It will offer consumers access to more brands from the group’s retail portfolio including Sports Direct, USC, Evans Cycles, GAME and Jack Wills.
A 5,000 sq ft Flannels store is also set to open this month, bringing a new high-end and luxury retail offering to Maidstone.
Michael Murray, CEO of Frasers Group, said: “The acquisition of Princesshay, Fremlin Walk and The Olympus Centre reinforces our commitment to investing in physical retail. Securing properties which serve as the primary retail destination for the community remains a top priority for us.
“Such acquisitions unlock new growth opportunities for our retail concepts, while revitalising high streets and physical shopping locations up and down the country.
“At Frasers, we strive to re-invent and elevate retail for UK shoppers, bringing the very best brands, environments, and experiences to all our customers across the country.””
The three shopping centres have a combined annual footfall of almost 17 million visitors, and the acquisitions reaffirm Frasers Group’s goal of investing in “high potential” retail properties.
In July, Frasers Group acquired the Frenchgate Shopping Centre in Doncaster, and other recent buys include the Overgate Centre in Dundee and The Mall in Luton.
