Frasers Group has expanded its property portfolio with the acquisition of St Nicholas Arcade in Lancaster.
- St Nicholas Arcade is a 160,000 square feet shopping centre located in the historic heart of Lancaster.
- The centre attracts nearly four million visitors annually, housing retailers like Next, Boots, and HMV.
- Frasers Group is committed to enhancing the physical retail landscape and revitalising UK high streets.
- This acquisition is expected to deliver substantial long-term value for Frasers Group’s property segment.
Frasers Group, a prominent name in the retail industry, has furthered its investment in the physical retail space by acquiring St Nicholas Arcade in Lancaster. The shopping centre, encompassing 160,000 square feet, is situated in the town’s historic centre, a location that draws a significant number of visitors, nearly four million a year.
St Nicholas Arcade is home to several well-known retailers, including Next, Boots, HMV, and The Entertainer. By securing such a prime retail location, Frasers Group aims to capitalise on the existing foot traffic and enhance the shopping experience for consumers in the region.
Michael Murray, the Chief Executive of Frasers Group, expressed the company’s strategic vision, stating, “At Frasers, we have always been strong believers in physical retail, and this acquisition demonstrates our ongoing commitment to supporting brick-and-mortar in the UK. By acquiring key retail sites, we are able to unlock new growth opportunities and revitalise high streets across the country, delivering unparalleled shopping experiences for consumers.”
The acquisition of St Nicholas Arcade is aligned with Frasers Group’s broader objective to strengthen its property segment, which it anticipates will deliver considerable long-term value. The company’s strategic focus on acquiring key retail sites is also a testament to its belief in the enduring importance of physical retail spaces amidst the growing trend of online shopping.
Frasers Group’s acquisition of St Nicholas Arcade reinforces its commitment to expanding and enhancing its retail property portfolio.
