Another shopping centre buy: Frasers Group acquires Doncaster’s Frenchgate

Another week, another shopping centre snapped up by Frasers Group. Doncaster’s Frenchgate shopping centre has been acquired by the busy retail giant for a real estate portfolio that could soon include Princesshay shopping centre in Exeter, if negotiations go to plan.

Bought for an undisclosed sum, the 770,000 sq ft Yorkshire town-centre mall attracts over 16 million customers a year, and is anchored by retail giants Next, H&M and TK Maxx as well as Frasers’ own major sportswear brand Sports Direct.

And importantly it said the deal provides an opportunity to not only more than triple the size of its Sports Direct store to over 35,000 sq ft, but will allow it to introduce some of its other key brands, including high-end fashion retailer Flannels and value fashion retailer USC into the centre.

Frasers Group chief executive Michael Murray said: “The acquisition… further demonstrates the group’s commitment to investing into brick-and-mortar.

“Acquiring property in key trading locations to unlock new opportunities for our retail and leisure businesses… is a key priority.”

He added: “We are committed to re-inventing retail and injecting new life into high streets across the UK to bring the very best brands, environment, and experience to customers across the country.”

As mentioned, Frasers is currently said to be talks to buy the Princesshay shopping centre, which is a joint venture between US-based asset manager, Nuveen and the UK’s Crown Estate.