Frasers Group has made significant investments in UK retail properties, acquiring three major shopping centres to expand its portfolio.
- The acquisitions include Princesshay Shopping Centre in Exeter, purchased from Nuveen and the Crown Estate.
- Kent’s Fremlin Walk Shopping Centre will feature both a 70,000 square foot Frasers flagship and a 5,000 square foot Flannels store.
- Gloucester’s Olympus Centre retail park has also been added to Frasers’ property collection.
- These strategic investments signal Frasers Group’s commitment to enhancing physical retail presence across the UK.
Frasers Group has undertaken a strategic expansion of its property portfolio by acquiring three significant shopping centres across the United Kingdom. This move underscores the company’s dedication to boosting its presence in physical retail locations.
Among the recent acquisitions is the Princesshay Shopping Centre in Exeter, which covers an expansive 600,000 square feet. This property was acquired from the US-based asset manager Nuveen and the Crown Estate, marking a key addition to Frasers’ growing list of substantial retail assets.
In Kent, the Fremlin Walk Shopping Centre is set to become a notable location for Frasers Group, featuring a 70,000 square foot flagship store and a 5,000 square foot Flannels outlet scheduled to open in the autumn. This development highlights Frasers’ strategy to introduce significant retail presences in key locations.
Also included in this acquisition is the Olympus Centre retail park located in Gloucester’s Quedgeley. With 65,000 square feet, it represents another step in Frasers’ efforts to strengthen its foothold in high-traffic areas.
Michael Murray, CEO of Frasers Group, commented on these acquisitions, 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.” This announcement reflects Frasers’ ongoing mission to revitalise and elevate retail experiences across the country.
With these acquisitions, Frasers Group reaffirms its focus on expanding and enhancing physical retail environments across the UK.
