Billionaire entrepreneur Mike Ashley’s retail conglomerate has acquired two discount shopping villages as part of its expanding property portfolio. Frasers Group revealed the purchase of the York Designer Outlet and the East Midlands Designer Outlet, popular destinations attracting nearly 7.8 million annual shoppers.
Although the exact deal value remains undisclosed, estimates suggest it could be in the region of £400 million. While Frasers Group is widely recognized for its ownership of various retail brands like Sports Direct and House of Fraser, it has been steadily broadening its presence in the shopping center market nationwide.
Michael Murray, Mr. Ashley’s son-in-law and CEO of Frasers Group, expressed the company’s ambition to further increase its share in the UK outlet market. This latest acquisition follows Frasers’ previous purchases of the Swindon Designer Outlet and the Braehead Shopping Centre in Scotland, among others.
Frasers Group’s annual report emphasizes the strategic importance of property investments to drive retail growth and enhance the UK high street landscape. The York Designer Outlet, spanning 250,000 square feet and housing 120 stores, and the East Midlands Designer Outlet, covering 170,000 square feet with over 65 designer brands, are key additions to Frasers’ property holdings.
Mr. Murray highlighted the significance of these acquisitions in aligning with global brands to drive mutual growth and support outlet strategies. Mike Ashley, the bold entrepreneur behind Frasers Group, started his retail journey over three decades ago in Maidenhead, Berkshire, and has since transformed his business into a retail powerhouse with a substantial market value, numerous stores, and a significant international presence.