Frasers Group acquires 1.1 million sq ft Scottish Shopping Centre from SGS UK Retail

Frasers Group has acquired the 1.1 million sq ft Braehead Shopping Centre in Glasgow from SGS UK Retail.

The shopping centre has been purchased for an undisclosed fee believed to be around £220m.

SGS UK Retail – which also owns the Victoria Centre in Nottingham and Harlequin Watford – has delivered a transformation programme at Braehead since undergoing a restructuring process in 2024. This has resulted in the signing of the first SuperPark in the UK, with the indoor leisure and recreation concept set to make its debut at Braehead early next year.

Recent signings and openings at the scheme include MINISO, Snowflake Gelato, and BPerfect.

Claire Barber, CEO of SGS UK Retail, said: “The sale of Braehead was always part of our strategic plan and through active management, we have delivered substantial value enhancement and successfully stabilised the asset, attracting new brands and increasing its relevance and appeal to customers.  We have created a strong platform from which Frasers Group can continue to drive growth, leveraging its retail expertise to further unlock Braehead’s potential as one of the leading retail destinations in Scotland.

“In light of strong leasing performance and the significant progress made in discussions with brands, we continue to see significant value creation opportunities in the Group’s remaining three assets.”

Michael Murray, CEO at Frasers Group, added: “This acquisition is an important step in delivering our property ambitions and accelerating the Elevation Strategy. It cements the group’s position as a leading operator and champion of physical retail destinations while unlocking greater opportunities to serve communities with the best brands, environments and experiences possible.”

Frasers Group was advised by CBRE, whilst JLL advised SGS UK Retail.