Frasers Group has made three real estate acquisitions in strategic retail locations.
The Shirebrook-based business has acquired Princesshay Shopping Centre in Exeter, Fremlin Walk Shopping Centre in Maidstone, and The Olympus Centre in Quedgeley.
Covering over 600,000 sq ft and including Princesshay Shopping Centre, this retail destination for shoppers in Exeter city centre and the wider region is home to more than 60 retailers across boutique, specialist and national brands.
Fremlin Walk Shopping Centre (350,000 sq ft) is a key retail destination in the heart of Maidstone, and home to major UK high street tenants.
It is currently undergoing extensive refurbishment ahead of the opening of a multi-brand 70,000 sq ft FRASERS flagship store, offering consumers access to more 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.
The Olympus Centre (65,000 sq ft) is a fully-let retail park located in the Quedgeley area of Gloucester. Strategically positioned, the retail park has good access to a thriving local catchment population and has strong fundamentals as a retail destination.
The three centres see an annual footfall of almost 17 million visitors.
Michael Murray, CEO of Frasers Group plc, 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 James Keany, Executive Director, Head of National Agency at CBRE on this acquisition.
