Frasers Group has strategically enhanced its portfolio by acquiring three prominent shopping centres across the UK. This move underlines its commitment to investing in physical retail spaces.
- The acquisitions include Princesshay Shopping Centre in Exeter, a 600,000 sq ft property.
- Frasers Group plans to open a large flagship and Flannels store in Kent’s Fremlin Walk Shopping Centre.
- The Olympus Centre retail park in Gloucester’s Quedgeley is also part of this expansion.
- Michael Murray, CEO of Frasers Group, emphasises the importance of these locations as key retail destinations.
Frasers Group, in a decisive move to strengthen its presence in the UK’s retail sector, has acquired three major shopping centres. These acquisitions highlight the group’s strategy to enhance its property portfolio while reaffirming its dedication to physical retail locations.
The Princesshay Shopping Centre in Exeter, covering 600,000 square feet, was purchased from the US-based asset manager Nuveen and the Crown Estate. This acquisition is particularly significant as the centre was recently put on the market earlier this year. Frasers Group’s acquisition of this prime property represents a considerable investment in a key retail hub.
In Kent, Frasers Group has added Fremlin Walk Shopping Centre to its holdings. This centre will soon feature a 70,000 square foot Frasers flagship store and a 5,000 square foot Flannels store, set to open in the autumn. These developments are expected to bolster the local economy and provide shoppers with an enhanced retail experience.
Additionally, the Olympus Centre retail park in Gloucester’s Quedgeley has been incorporated into the group’s portfolio. The strategic acquisition of these properties aligns with Frasers Group’s broader goal of revitalising high streets throughout the country. CEO Michael Murray commented on the importance of these acquisitions, stating that they offer new growth opportunities while serving as vital retail destinations for the community.
Frasers Group is committed to redefining the retail landscape in the UK, as expressed by CEO Michael Murray. He stated, “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 recent property acquisitions underscore its strategic focus on expanding and enriching physical retail spaces across the UK.
