Frasers Group has expanded its property portfolio by acquiring three new shopping centres across the UK.
- The company has purchased the Princesshay Shopping Centre in Exeter, strengthening its retail presence.
- Kent’s Fremlin Walk Shopping Centre will now host a new Frasers flagship and a Flannels store.
- The Olympus Centre in Gloucester is also part of the new acquisitions made by Frasers.
- Frasers Group’s CEO stated these purchases are key to revitalising the UK’s high streets.
Frasers Group has strategically expanded its property holdings with the acquisition of three major shopping centres across the United Kingdom. This move solidifies its commitment to enhancing its physical retail presence amidst a challenging retail environment. The acquisition targets, aimed at reinvigorating high streets, include the 600,000 sq ft Princesshay Shopping Centre located in Exeter, acquired from Nuveen and the Crown Estate.
In a significant addition to its portfolio, Frasers has secured Kent’s Fremlin Walk Shopping Centre. This site is expected to bolster Frasers’ brand visibility through the establishment of a new 70,000 sq ft flagship store and a 5,000 sq ft Flannels store, set to open this autumn. The presence of these stores complements Frasers’ strategy to attract foot traffic and enhance customer engagement.
The retail giant’s expansion effort also encompasses the 65,000 sq ft Olympus Centre retail park in Gloucester’s Quedgeley. This acquisition is part of Frasers’ broader initiative to reinstate the prominence of physical retail locations, as stated by their CEO, Michael Murray. Murray emphasised the importance of these acquisitions not just for the company but for the communities they serve, highlighting the potential for these centres to become pivotal retail destinations.
Frasers Group remains focused on revolutionising retail experiences within the UK. According to CEO Michael Murray, the acquisition of these key properties is a testament to the company’s commitment to delivering premium shopping environments and excellent customer experiences, bringing together top brands under one roof. The driving goal is to transform local high streets and commercial centres into thriving retail hubs, aligning with Frasers’ overarching business strategy.
These strategic acquisitions are poised to strengthen the Frasers Group’s footprint in the UK, enhancing both the local retail environment and the shopping experience.
