Frasers Group has expanded its real estate portfolio by acquiring the Frenchgate shopping centre in Doncaster.
- The Frenchgate centre covers 770,000 sq ft and hosts over 120 retailers such as Next, H&M, and TK Maxx.
- With annual footfall exceeding 16 million, this acquisition aims to unlock new opportunities for Frasers Group’s fascias.
- Frasers Group plans to extensively expand its Sports Direct outlet within the centre.
- The acquisition reflects Frasers Group’s strategy to revitalise high streets across the UK.
Frasers Group, a key player in the retail industry, has made a significant move by acquiring the Frenchgate shopping centre in Doncaster, further broadening its real estate assets within the UK. The centre, which houses more than 120 retail outlets, includes popular brands such as Next, H&M, and TK Maxx, and attracts over 16 million visitors annually. This acquisition is set to provide substantial growth prospects for various Frasers Group’s fascias.
The strategic acquisition includes plans to more than triple the existing Sports Direct store size to over 35,000 square feet, integrating renowned retail outlets like USC, Game, and Evans Cycles. By doing so, Frasers Group aims to enhance consumer experience and increase its market presence.
While the financial details of the transaction were undisclosed, the Frenchgate centre was initially listed at £35 million on the LoopNet marketplace. This acquisition follows Frasers Group’s recent purchases of The Mall in Luton and Overgate in Dundee, reflecting a continued investment in physical retail locations.
Michael Murray, CEO of Frasers Group, articulated the company’s commitment to reinventing the retail environment by injecting new life into UK high streets, aiming to deliver premium brands, environments, and experiences to the community. The group received advisory support from the property firm CBRE during this acquisition process.
Frasers Group’s acquisition of the Frenchgate shopping centre underscores its ongoing commitment to revamping retail spaces across the UK.
