Frasers Group is considering a move to take a 50% stake in Manchester’s Arndale shopping centre, a move that would further expand the retailer’s presence in city-centre locations.
The fashion and retail giant, which owns Sports Direct, Flannels and House of Fraser, is understood to be in discussions after Landsec reportedly pulled out of talks over the £235m fee,, Retail Week reported.
The potential acquisition forms part of Frasers’ ongoing strategy to combine retail operations with prime physical locations, a model it has been building over the past few years.
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Over the past year, the group has expanded its property portfolio with high-profile purchases including the Princesshay shopping centre in Exeter, Fremlin Walk in Kent, Gloucester’s Olympus Centre retail park, and Doncaster’s Frenchgate shopping centre.
Frasers has also invested in the Overgate Centre in Dundee, The Mall in Luton, and Junction 32 outlet in Yorkshire, underscoring its focus on dominant local retail destinations.
CEO Michael Murray said at the time: “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.”
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