Billionaire entrepreneur Mike Ashley’s retail conglomerate has acquired two discount shopping centers as part of its expanding property portfolio. Frasers Group revealed the purchase of the York Designer Outlet and the East Midlands Designer Outlet, attracting nearly 7.8 million shoppers annually.
While the exact deal value remains undisclosed, estimates suggest it could be approximately £400 million. Frasers Group, prominent for its ownership of various retail brands such as Sports Direct and House of Fraser, has been steadily increasing its presence in shopping centers nationwide.
Michael Murray, the son-in-law of tycoon Mr. Ashley and CEO of Frasers Group, expressed the company’s ambition to further grow its market share in the UK outlet sector. This recent acquisition follows Frasers’ previous purchase of the Swindon Designer Outlet and the Braehead Shopping Centre in Scotland for reported amounts of £220 million and £400 million, respectively.
Frasers Group’s annual report emphasizes its focus on property investments to enhance its retail operations and generate significant returns. The company sees property as a vital component of its business strategy, aiming to revitalize UK high streets and retail hubs.
The York Designer Outlet, spanning 250,000 square feet and housing 120 retailers including popular brands like Marks & Spencer and Adidas, welcomes 4.3 million visitors annually. On the other hand, the East Midlands Designer Outlet, covering 170,000 square feet and featuring over 65 designer brands, attracts 3.5 million visitors each year.
Mr. Murray highlighted the strategic significance of these acquisitions in fostering partnerships with global brands to drive growth and mutual value. Mike Ashley, the bold entrepreneur who founded the company over three decades ago, has transformed it into a retail powerhouse with a substantial market value, a vast network of stores, and a global presence.
