Frasers Group has expanded its property portfolio with the acquisition of St Nicholas Arcade, a key retail site in Lancaster.
- The shopping centre, spanning 160,000 sq ft, is strategically located in Lancaster’s historic centre.
- St Nicholas Arcade attracts nearly four million visitors annually, housing tenants like Next, Boots, Hmv, and The Entertainer.
- Frasers Group emphasises its commitment to physical retail as part of its broader growth strategy.
- This acquisition aligns with the company’s goals to revitalise high streets across the UK.
Frasers Group has strategically acquired Lancaster’s St Nicholas Arcade, further expanding its property holdings. This shopping centre, covering an area of 160,000 square feet, resides prominently in the historic heart of Lancaster. It is a significant destination, drawing in close to four million visitors each year. The centre houses well-known tenants such as Next, Boots, Hmv, and The Entertainer.
Michael Murray, the chief executive of Frasers Group, highlighted the company’s belief in the importance of physical retail. He stated, “At Frasers, we have always been strong believers in physical retail, and this acquisition demonstrates our ongoing commitment to supporting brick-and-mortar in the UK. By acquiring key retail sites, we are able to unlock new growth opportunities and revitalise high streets across the country, delivering unparalleled shopping experiences for consumers.” His statement underscores the strategic importance of this acquisition in supporting the company’s vision for future growth.
This acquisition is not merely an addition to the real estate portfolio; it marks a significant step towards enhancing the group’s property segment. Frasers Group aims to cultivate long-term value through carefully chosen acquisitions like this, which support the broader objective of invigorating the retail landscape in the UK.
Frasers Group’s acquisition of St Nicholas Arcade represents a vital initiative in their strategy to bolster physical retail presence.
