Frasers Group has acquired three major shopping centres across the UK, expanding its property investments.
- The Princesshay Shopping Centre in Exeter was purchased from Nuveen and the Crown Estate.
- Fremlin Walk Shopping Centre in Kent is set to feature a prominent Frasers flagship store.
- The Olympus Centre retail park in Gloucester has also been added to the portfolio.
- CEO Michael Murray highlights the commitment to revitalising high streets.
Frasers Group, known for its dynamic retail presence, has successfully expanded its property portfolio with the acquisition of three significant shopping centres across the United Kingdom. This strategic decision underscores the group’s commitment to advancing its investment in physical retail venues.
The first notable acquisition is the Princesshay Shopping Centre in Exeter, a sprawling 600,000 square foot property purchased from the US-based asset manager Nuveen and the Crown Estate. This acquisition was made following its listing for sale earlier in the year, marking a substantial addition to Frasers’ portfolio.
In Kent, the Fremlin Walk Shopping Centre has been acquired, complementing this expansion strategy. Notably, this location will soon host a 70,000 square foot Frasers flagship and a 5,000 square foot Flannels store, anticipated to open in the autumn, signalling a robust retail presence in the region.
Additionally, the Olympus Centre retail park, occupying 65,000 square feet in Quedgeley, Gloucester, further exemplifies the group’s strategic acquisition moves. This purchase aligns with Frasers Group’s aim to establish and enhance prominent retail destinations for local communities.
Frasers Group CEO, Michael Murray, articulated the company’s vision, stating, “The acquisition of Princesshay, Fremlin Walk, and The Olympus Centre reinforces our commitment to investing in physical retail. Securing properties which serve as the primary retail destination for the community remains a top priority for us. Such acquisitions unlock new growth opportunities for our retail concepts, while revitalising high streets and physical shopping locations up and down the country.” This sentiment reflects the company’s objective to re-invent and elevate retail experiences across the nation.
These strategic acquisitions by Frasers Group highlight its ambition to revitalise retail destinations across the UK.
