Frasers Group has swooped for Frenchgate Shopping Centre in Doncaster as it looks to cement its commitment to bricks-and-mortal retail.
The retail group, owned by former Newcastle United owner Mike Ashley, has acquired the 770,000 sqft shopping complex based in the town centre, which has major high street tenants including Boots, Schuh, Greggs, Next, TK Maxx and Lush. The firm said the deal for the centre, which draws in more than 16 million visitors a year, demonstrates its commitment to growing its geographical positioning across the UK.
It said it also paves the way for the group to more than triple the size of its Sports Direct store to over 35,000 sq ft and bring more of its brands including USC, GAME and Evans Cycles to Doncaster.
The group’s chief executive Michael Murray said: “The acquisition of Frenchgate Shopping Centre in Doncaster further demonstrates the group’s commitment to investing into 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.”
The value of the transaction has not been disclosed, but earlier this year it was reported that the owner was seeking £35m for the centre.