Billionaire Mike Ashley's Frasers Group has acquired the York Designer Outlet and East Midlands Designer Outlet shopping centres, expanding its property portfolio. The two destinations attract nearly 7.8 million shoppers annually. The deal's value was not disclosed but has been speculated at around £400 million.
Frasers Group, known for retailers like Sports Direct and House of Fraser, has been steadily purchasing shopping centres across the UK. Recent acquisitions include the Swindon Designer Outlet last December and the Braehead Shopping Centre in Scotland for £220 million in November.
Chief executive Michael Murray, Ashley's son-in-law, stated: 'Today, we own over one-fifth of the UK outlet market and have a clear ambition to grow our share further.' He added that the acquisitions leverage partnerships with global brands to unlock mutual value.
The York Designer Outlet, near York city centre, spans 250,000 square feet with 120 retailers and 4.3 million annual visitors. The East Midlands Designer Outlet, near the M1 motorway, covers 170,000 square feet with over 65 brands and 3.5 million visitors yearly.
Frasers Group's annual report highlights property investment as a key focus, aiming to 'reinvigorate UK high streets and retail hubs.' The group now owns over one-fifth of the UK outlet market and continues to grow its property empire.
