Frasers Group, the retail company owned by Sports Direct founder Mike Ashley, has bought Swindon’s Designer Outlet from LaSalle Investment Management, adding another major retail property to its growing UK portfolio.
Details of the Acquisition
The outlet, located to the north west of Swindon’s main town centre, was previously owned by LaSalle Investment Management, which acquired the site in January 2022. The centre was originally opened in 1997 on the Grade II-listed site of the former Great Western Railway Works.
Swindon Designer Outlet attracts more than three million visitors each year and was previously owned by McArthurGlen, which operates 23 shopping centres across Europe, before being sold to LaSalle.
Frasers Group Strategy and Comments
Michael Murray, chief executive of Frasers Group, said physical retail remains central to the company’s strategy.
“Physical retail is central to our elevation strategy and investing in Swindon – one of the UK’s top five outlets by footfall – strengthens our position as both retailer and landlord,” he said.
“This acquisition reinforces our property strategy and unlocks new opportunities for our brands and our partners,” Murray added.
Recent Retail Property Expansion
The purchase comes one month after Frasers Group acquired Braehead Shopping Centre in Scotland, continuing a series of recent investments in large retail destinations.
Mike Ashley remains the majority shareholder of Frasers Group, which owns Frasers department stores and brands including Game, Jack Wills, and Evans Cycles, as well as several other shopping centres across the UK.
Featured image credits: Wikimedia Commons
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