Frasers Group adds more shopping centres to its property portfolio

Frasers Group continues to grow its presence as a major UK mall operator having just added three new shopping centres to its property portfolio.

The group has confirmed full ownership of the 600,000 sq ft Princessshay Shopping Centre in Exeter, the 350,000 sq ft Fremlin Shopping Centre in Maidstone, Kent, and the 65,000 sq ft Olympus Centre retail park in Quedgeley, Gloucester.

The three centres, which have been on the retail group’s to-buy radar this year, have a combined annual footfall of almost 17 million visitors. They all fit into Frasers Group’s acquisition goals as “high potential” retail properties.

For instance, Fremlin Walk is currently undergoing extensive refurbishment ahead of the opening of a multi-brand 70,000 sq ft Frasers flagship department store, which will become the shopping centre’s anchor retailer.

A 5,000 sq ft Flannels store is also set to open this month, “bringing a new high-end and luxury retail offering to Maidstone”.

Michael Murray, CEO of Frasers Group, 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.”

He added: “We strive to reinvent and elevate retail for UK shoppers, bringing the very best brands, environments, and experiences to all our customers across the country.”

Earlier this year, Frasers Group also acquired the Frenchgate Shopping Centre in Doncaster, the Overgate Centre in Dundee, The Mall in Luton and, most recently, St Nicholas Arcade (St Nics) in Lancaster.