Michael Murray has returned to his Doncaster roots with Frasers Group’s purchase of Frenchgate Shopping Centre from Irish investor Patrick McKillen.
Murray, CEO of Frasers and son-in-law of founder Mike Ashley, hails from Doncaster and is the son of local developer and investor Mick Murray, who established Lazarus Properties in 1997.
Frasers will use the 770,000 sq ft centre to enable it to grow the presence of its suite of store brands in Doncaster, including Sports Direct, Evans Cycles and USC.
The centre was marketed for sale at £35m, although the terms of the deal were not disclosed. There are 120 retailers trading in the centre including Next, H&M and TK Maxx.
Murray said the group was intent on investing in bricks and mortar. Frasers already owns shopping centres in Luton and Dundee, as well as former House of Frasers stores such as in Manchester’s Deansgate.
CBRE advised Frasers Group. Savills advised McKillen.