Billionaire entrepreneur Mike Ashley’s retail conglomerate has acquired two discount shopping villages to expand its growing property portfolio.
Frasers Group revealed the purchase of York Designer Outlet and East Midlands Designer Outlet, popular destinations attracting nearly 7.8 million shoppers annually. Although the deal’s value remains undisclosed, estimates suggest it could be approximately £400 million.
While Frasers Group is renowned for its ownership of various retail chains like Sports Direct and House of Fraser, it has been steadily acquiring shopping centers nationwide. Michael Murray, Mr. Ashley’s son-in-law and Frasers Group’s CEO, expressed their ambition to further dominate the UK outlet market.
This recent acquisition follows Frasers’ purchase of Swindon Designer Outlet last December and Braehead Shopping Centre in Scotland for around £220 million in November. The company also holds properties like Princesshay Shopping Centre in Exeter and Frenchgate Centre in Doncaster.
Investing in property is a key focus for Frasers Group, aiming to bolster its retail business and generate substantial returns. The group’s commitment to revitalizing high streets and retail hubs remains strong.
The York Designer Outlet spans 250,000 square feet and houses 120 retailers, while the East Midlands Designer Outlet covers 170,000 square feet with over 65 designer brands. Mr. Murray emphasized the strategic importance of these acquisitions in driving growth and fostering partnerships with global brands.
Mike Ashley, the bold entrepreneur behind Frasers Group, started his retail journey over three decades ago and has since built a retail empire with a significant market value, boasting numerous stores and a global presence.
