Mike Ashley’s Frasers Group in £100m bid for two shopping centres

6th February 2023 | Jack Oliver

Mike Ashley is lining up deals for two shopping centres in a bid worth £100m, The Times has reported.

The schemes under offer are The Mall in Luton and the Overgate centre in Dundee, with reported prices of £70m and £30m respectively.

The Mall has been put up for sale by owners Wells Fargo, which has taken over the site from its previous owner Capital & Regional. The group already operates a Sports Direct store within the scheme and is reportedly looking to convert the former Debenhams site into outlets for Frasers-owned brands.

The Overgate Centre is currently owned by Legal & General, who purchased the site from Landsec for £125m nine years ago.

The group has made a series of acquisitions in the last year, having recently acquired a stake in Hugo Boss, snapping up a number of brands from JD Sports, as well as Missguided, I saw It First, Amara, and Gieves & Hawkes, amongst others.

In December, Completely Retail News reported that the Group was poised to purchase Almondvale West Retail Park in Livingston.

Mike Ashley is reportedly still negotiating prices and is unsure if the deals will be completed.


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