Frasers Group continues its UK expansion by acquiring the Frenchgate Shopping Centre in Doncaster.
- The Frenchgate Shopping Centre, spans 770,000 sq ft and hosts over 120 retailers, attracting more than 16 million visitors annually.
- This acquisition, advised by CBRE, marks another significant addition to Frasers Group’s real estate portfolio, following recent acquisitions in Luton and Dundee.
- With plans to significantly expand existing store sizes, Frasers aims to enhance customer experiences and retail offerings.
- CEO Michael Murray emphasises the company’s commitment to revitalising UK high streets with top brands and retail environments.
Frasers Group has made a strategic acquisition by purchasing the Frenchgate Shopping Centre in Doncaster. This acquisition is part of the company’s ongoing effort to expand its real estate portfolio across the UK. The Frenchgate Shopping Centre, known for its extensive space of 770,000 square feet, is home to more than 120 retailers including prominent brands like Next, H&M, and TK Maxx. Annually, the centre attracts over 16 million customers, underlining its significance in the region.
Details of the financial transaction were not disclosed; however, it is known that the shopping centre was initially listed at £35 million on the commercial property market LoopNet. This acquisition is part of a series that includes previous purchases of The Mall in Luton and Overgate in Dundee, indicating Frasers Group’s robust expansion strategy.
Frasers Group’s intent is clear: to ‘unlock new opportunities’ within the centre. Plans are underway to more than triple the size of the Sports Direct store to over 35,000 square feet. This expansion is expected to include additional retail brands such as USC, Game, and Evans Cycles, thereby broadening the shopping experience on offer to consumers.
Michael Murray, CEO of Frasers Group, articulated the vision behind this acquisition by stating the group’s commitment to investing in brick-and-mortar retail. He stressed the goal of rejuvenating high streets by delivering premier brands and exceptional shopping environments to customers across the country.
The advisory role of property firm CBRE in this transaction highlights the strategic and calculated approach Frasers Group adopts in its acquisitions. Such moves not only reflect the group’s ambition but also its confidence in the growth potential of physical retail spaces amidst changing consumer behaviours.
Frasers Group’s acquisition of Frenchgate underscores its strategic commitment to revitalising high street retail across the UK.
