Frasers Group has significantly expanded its property portfolio, acquiring three major retail sites in the UK.
- The acquisitions include the large Princesshay estate in Exeter, Fremlin Walk in Maidstone, and Olympus Centre in Gloucester.
- These properties collectively cover an area of one million square feet and attract nearly 17 million annual visitors.
- The group’s strategic expansion aligns with its dedication to investing in high-potential retail properties.
- CEO Michael Murray emphasizes these acquisitions as key to enhancing retail concepts and revitalizing high streets.
Frasers Group’s latest acquisition represents a substantial enhancement of its property portfolio within the UK, securing three major retail sites. The Princesshay estate in Exeter was purchased from Nuveen and the Crown Estate, encompassing a vast area of 600,000 square feet and hosting over 60 distinguished brands such as Zara, Next, New Look, FatFace, and Reiss.
Fremlin Walk, situated in Maidstone, Kent, spans 350,000 square feet and is now under Frasers Group’s ownership. This location is preparing to debut a refurbished 70,000 square foot flagship store for the group and introduce a new 5,000 square foot Flannels store later in the fall.
Another key addition, the Olympus Centre in Gloucester’s Quedgeley, brings 65,000 square feet of retail space into Frasers’ growing portfolio. These acquisitions collectively see a remarkable foot traffic amounting to nearly 17 million visits each year.
The strategic acquisitions resonate with Frasers Group’s overarching focus on solidifying its investment in high-potential retail properties. The company continues to strengthen its presence across the UK, backed by previous purchases like The Mall in Luton and Overgate shopping centre in Dundee.
Michael Murray, CEO, reiterated the importance of securing these prime retail venues, stating ‘The acquisition of Princesshay, Fremlin Walk, and The Olympus Centre reinforces our commitment to investing in physical retail.’ His statement underscores Frasers Group’s strategic aim to invigorate local high streets and retail hubs, ensuring growth opportunities and a vibrant shopping experience.
With these acquisitions, Frasers Group clearly signals its commitment to enhancing its retail footprint and revitalizing significant shopping destinations.
