Frasers Group has acquired St Nicholas Arcade in Lancaster.
- The property spans 160,000 sq ft and hosts retailers like Next and Trespass.
- The acquisition follows a series of similar investments by the company.
- Frasers Group’s strategy includes enhancing its property portfolio.
- CEO Michael Murray emphasises the value of physical retail.
Frasers Group has further expanded its property portfolio through the acquisition of the St Nicholas Arcade in Lancaster. This retail property, measuring 160,000 square feet, significantly enhances the company’s presence in the UK shopping centre landscape. Retailers such as Next, Shoe Zone, and Trespass operate within the arcade, which attracts approximately four million visitors annually.
The St Nicholas Arcade acquisition is part of a strategic trend by Frasers Group, as the company has been on a buying spree of shopping centres in the United Kingdom. Previously, the company purchased The Mall in Luton for £58 million and the Overgate shopping centre in Dundee for an estimated £30 million. Additionally, in July, Frasers Group acquired the Frenchgate shopping centre in Doncaster. These acquisitions are part of a calculated effort to consolidate and enhance the group’s property holdings.
Expanding its reach further, Frasers Group is in negotiations to acquire additional shopping centres, including Fremlin Walk in Maidstone and Princesshay in Exeter. The acquisition price of Fremlin Walk is currently below the original purchase price paid by the current owner, demonstrating Frasers Group’s strategic acumen in finding value.
Michael Murray, the Chief Executive of Frasers Group, reiterated the company’s commitment to physical retail. He noted, “At Frasers, we have always been strong believers in physical retail, and this acquisition demonstrates our ongoing commitment to supporting bricks-and-mortar in the UK.” The company aims to revitalise high streets and offer unparalleled shopping experiences while developing their property segment.
The company’s aggressive expansion and acquisition strategy highlight its focus on unlocking growth opportunities by purchasing key retail sites across the UK. This strategic approach aims to deliver long-term value and reposition shopping centres as vibrant consumer destinations, enhancing Frasers Group’s market position.
Frasers Group’s acquisition of St Nicholas Arcade underscores its strategic focus on enhancing its property portfolio and supporting physical retail.
