"Mike Ashley's Frasers Group has acquired Swindon's Designer Outlet, one of the UK's busiest retail destinations, marking the latest move in the company's fast-growing property portfolio. The popular shopping centre - housed within the Grade II-listed former Great Western Railway Works - attracts more than three million visitors a year and has been sold by LaSalle Investment Management, which only purchased the site in 2022."
"Michael Murray, CEO of Frasers Group, said the deal underscores the company's commitment to investing in physical retail as a core part of its "elevation strategy". "Physical retail is central to our elevation strategy and investing in Swindon - one of the UK's top five outlets by footfall - strengthens our position as both retailer and landlord," Murray said. "This acquisition reinforces our property strategy and unlocks new opportunities for our brands and our partners.""
"The outlet, which opened in 1997, was previously operated by McArthurGlen before changing hands to LaSalle. Its acquisition marks another major shopping centre addition for Frasers Group, following last month's purchase of the Braehead Shopping Centre in Scotland. The FTSE-listed business, controlled by founder and majority shareholder Mike Ashley, now owns a growing portfolio of retail centres across the UK alongside its chain of Frasers department stores and brands including Sports Direct, Game, Jack Wills and Evans Cycles."
Frasers Group purchased Swindon's Designer Outlet, a high-footfall centre housed in the Grade II-listed former Great Western Railway Works that attracts over three million visitors annually. LaSalle Investment Management sold the site after acquiring it in 2022. The acquisition aligns with a strategy that treats physical retail as central to an 'elevation strategy' and strengthens Frasers Group's position as both retailer and landlord. The outlet opened in 1997 and was previously operated by McArthurGlen. The deal follows the Braehead Shopping Centre purchase and expands a portfolio that includes Frasers department stores and brands such as Sports Direct and Jack Wills.
Read at Business Matters
Unable to calculate read time
Collection
[
|
...
]