Frasers Group has completed the acquisition of more than 1m sq ft of retail space over the past two weeks.
The company has purchased the 600,000 sq ft Princesshay Shopping Centre in Exeter city centre, the 350,000 sq ft Fremlin Walk Shopping Centre in Maidstone and the 65,000 sq ft The Olympus Centre retail park in Quedgeley.
Fremlin Walk is currently undergoing extensive refurbishment ahead of the opening of a multi-brand 70,000 sq ft Frasers flagship store, which will house brands from the group’s ecosystem including a Sports Direct, USC, Evans Cycles, GAME and Jack Wills. A 5,000 sq ft Flannels store is also set to open this month at the centre.
Michael Murray, CEO of Frasers Group, said: “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. At Frasers, we strive to re-invent and elevate retail for UK shoppers, bringing the very best brands, environments, and experiences to all our customers across the country.”
Frasers Group was advised by CBRE.
