Frasers Group is poised to purchase Fremlin Walk in Maidstone, continuing their expansion within the retail sector.
- This acquisition follows the previous purchase of The Mall in Luton for £58 million.
- Fremlin Walk, encompassing 350,000 sq ft, houses popular retailers like H&M and JD Sports.
- Frasers Group’s plans include opening a flagship store featuring Flannels and Sports Direct.
- Recent acquisitions include Thackerays and Matches, illustrating a robust growth strategy.
Frasers Group is on the brink of acquiring Fremlin Walk, a major shopping centre located in Maidstone. This move is part of the company’s continuous expansion strategy within the retail space, as reported by The Times.
Fremlin Walk spans 350,000 square feet and is currently home to well-known stores such as FatFace, H&M, JD Sports, Schuh, and Skechers. The centre is set to welcome a new Frasers Group flagship store this autumn, which will include both Flannels and Sports Direct under one roof.
Initially, Fremlin Walk was acquired by M&G Real Estate in 2014 for £110 million. However, it was listed for sale at £25 million earlier this month, opening the door for this new transaction.
This acquisition is one of several recent moves by Frasers Group. In July, the group purchased the Northampton-based independent fashion retailer Thackerays. This followed the acquisition of THG’s Coggles in June, and Matches, a luxury fashion retailer, for £52 million in December 2023.
Last year, Frasers Group expanded their portfolio by acquiring The Mall in Luton for £58 million. The group also owns the Overgate shopping centre in Dundee and the Frenchgate shopping centre in Doncaster.
The group’s expansion efforts have coincided with a 13.1% rise in adjusted profit before tax, reaching £544.8 million in the year ending 28 April 2024.
The acquisition of Fremlin Walk signifies another strategic advancement in Frasers Group’s growth trajectory.
