The two Frasers Group brands will split the 120,000 sq ft unit in half, with Frasers and Sports Direct both taking 60,000 sq ft of space on the ground and first floors, respectively.
The deal is part of Frasers’ ‘elevation strategy’, which looks to raise brand perception through the creation of new store concepts.
Frasers Group chief executive Michael Murray said: “We are big believers in physical retail and our significant investment demonstrates not only our commitment to the elevation strategy, but also our innovative approach to rethinking large retail spaces to make them fit for the future.
“With each new store opening, we seek to set the benchmark for outstanding regional retail as we continue to bring the world’s most aspirational brands, product innovations, and customer experiences to regional consumers across the UK.”
Frasers Group has also signed two new leases at Teeside Shopping Park in Stockton-on-Tees, as Sports Direct upsizes into a larger unit totalling 40,000 sq ft, while Flannels will take the existing 20,000 sq ft site following a refurbishment. Both are set to open in late 2024.