Frasers Group in talks to acquire £25m Kent Shopping Centre
Frasers Group is looking to continue its shopping centre spree as the group eyes a purchase of Fremlin Walk in Maidstone, Kent.
The Mike Ashley-owned group is in discussions with scheme owner M&G Real Estate as it looks to add the 350,000 sq ft asset to its portfolio, The Times has reported.
Fremlin Walk opened in 2005 and is home to retailers such as Boots, H&M, JD Sports, and Pandora. Later this year, a multi-brand store featuring Frasers, Flannels, and Sports Direct is set to open at the scheme.
The asset had been placed on the market with an asking price of £25m, representing a significant drop in value since it was acquired by M&G from Legal & General Property in 2014 for £110m.
An acquisition would see Fremlin Walk join a number of retail assets Frasers Group has snapped up in recent times. Last month, the group acquired Doncaster’s Frenchgate Centre, whilst in 2023 it purchased The Mall in Luton for £58m, the Overgate shopping centre in Dundee for £30m, and spent over £45m on the Junction 32 outlet centre in Castleford, West Yorkshire.
Frasers Group is also reportedly in talks to purchase full ownership of Princesshay shopping centre in Exeter from Nuveen and The Crown Estate.
Knight Frank has been appointed to market Fremlin Walk.