Frasers Group has snapped up a trio of shopping centres across the UK as it doubles down on growing its property portfolio.
The Sports Direct owner has acquired the 600,000 sq ft Princesshay Shopping Centre in Exeter from US-based asset manager Nuveen and the Crown Estate after it was put up for sale earlier this year.
It has added Kent’s Fremlin Walk Shopping Centre to its portfolio, which will see a 70,000 sq ft Frasers flagship and a 5,000sq ft Flannels store open this autumn.
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The retail giant’s acquisitions also includes the 65,000sq ft Olympus Centre retail park in Gloucester’s Quedgeley.
Frasers Group chief executive Michael Murray 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.”
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