Frasers Group snaps up trio of retail assets amid continued expansion
Frasers Group has acquired two shopping centres and a retail park as part of a continued acquisition spree from the retail giant.
The group – which owns the Sports Direct and Flannels brands – has acquired Princesshay Shopping Centre in Exeter from Nuveen and The Crown Estate. Frasers Group had reportedly been in discussions regarding a full acquisition since the summer.
Frasers Group has also added Fremlin Walk Shopping Centre in Maidstone to its portfolio. The group has already made investments into the scheme, with a 70,000 sq ft Frasers flagship and a 5,000 sq ft Flannels store set to open this autumn.
The group has also acquired the Olympus Centre retail park in Quedgeley, Gloucester.
Together, the three assets comprise over 1 million sq ft of retail space.
Michael Murray, chief executive 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 acquisitions follow a number of purchases made by Frasers Group in recent times: earlier this year, 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.