Frasers Group has strategically acquired three major retail sites, signalling its commitment to the UK real estate market.
- The acquisitions include Exeter’s Princesshay estate, Maidstone’s Fremlin Walk, and the Olympus Centre in Gloucester.
- These new sites collectively cover one million square feet and attract nearly 17 million visitors annually.
- Frasers Group’s portfolio expansion exemplifies its investment in high-potential retail properties across the UK.
- CEO Michael Murray emphasises the focus on revitalising high streets and unlocking growth opportunities through these acquisitions.
Frasers Group has made a strategic move by acquiring three significant retail sites in the United Kingdom. The acquisitions involve a one million square foot span across Exeter, Maidstone, and Gloucester. This development strengthens Frasers Group’s property portfolio and highlights its ongoing commitment to investing in the UK real estate sector.
In Exeter, Frasers Group acquired the Princesshay estate, a 600,000 square foot property housing over 60 brands, including popular names such as Zara, Next, New Look, FatFace, and Reiss. This acquisition was made from US-based asset manager Nuveen and the Crown Estate, marking a significant addition to the Group’s holdings.
The acquisition in Maidstone includes the Fremlin Walk shopping centre. This 350,000 square foot centre, obtained from M&G Real Estate, will soon feature a refurbished 70,000 square foot flagship store and a new 5,000 square foot Flannels outlet, set to open this autumn. This move exemplifies Frasers Group’s strategy to enhance its presence in key retail locations.
Adding to its expansive portfolio, Frasers Group also procured the Olympus Centre in Gloucester’s Quedgeley. This 65,000 square foot retail park is now part of their holdings, reflecting the Group’s ambition to expand its reach and influence in the UK shopping landscape.
Michael Murray, CEO of Frasers Group plc, articulated the company’s strategic intentions, stating, “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.”
Frasers Group’s latest acquisitions underline its strategic focus on expanding its retail footprint across the UK.
