Mike Ashley targets £50m Leeds outlet centre deal
Mike Ashley has put forward a bid of almost £50m to snap up an outlet shopping centre on the outskirts of Leeds.
The retail mogul and Frasers Group owner has targeted an acquisition of Junction 32 near Castleford, The Times has reported.
The Landsec-owned scheme spans 250,000 sq ft and is home to 100 stores, including outlet shops for retailers such as Nike, Adidas, and Barbour. It also hosts Frasers-owned brands Jack Wills and Sports Direct.
Landsec purchased Junction 32 in 2017 from Hermes Investment Management, along with two other outlet centres for a total consideration of £333m.
It was put on the market over the winter as it does not fit within Landsec’s latest strategy of focusing on London offices, big retail destinations, and mixed-use urban destinations.
A spokesperson for Landsec told The Times it was “considering various acquisition and disposal opportunities that make financial and strategic sense to the business”.
In March, Ashley’s Frasers Group snapped up The Mall in Luton and the Overgate Centre in Dundee.