Michael Murray, CEO of Frasers Group, has today announced that Frasers has snapped up yet another shopping centre. The acquisition of Frenchgate Shopping Centre in Doncaster reinforces the group’s “commitment to investing in brick-and-mortar”.
The 770,000 sq ft. retail centre welcomes over 16 million customers a year. It features major high-street tenants, including Next, H&M and TK Maxx. The deal facilitates the opportunity to more than triple the Sports Direct store size to over 35,000 sq ft and provides customers with access to other brands from the Frasers Group ecosystem including USC, GAME and Evans Cycles.
Michael Murray, Chief Executive of Frasers Group, said: “The acquisition of Frenchgate Shopping Centre in Doncaster further demonstrates the Group’s commitment to investing in brick-and-mortar. Acquiring property in key trading locations to unlock new opportunities for our retail and leisure businesses, such as Sports Direct, Everlast Gyms, Frasers and FLANNELS, is a key priority.
“We are committed to re-inventing retail and injecting new life into high streets across the UK to bring the very best brands, environment, and experience to customers across the country.”
This acquisition further demonstrates Frasers Group’s commitment to growing its geographical positioning across the UK.
This comes just days after it was revealed that Frasers Group is in talks with the Crown Estate to take full ownership of the Princesshay shopping centre in Exeter.
Last month, rumours came to light that Mike Ashley’s retail empire is the frontrunner to buy a 50% stake in Princesshay from Nuveen, a US-based asset manager that invests the retirement savings of American teachers. As of last week, Frasers is working on acquiring the other 50% of the shopping centre from Nuveen’s joint venture partner, the Crown Estate, according to The Times.