Frasers buys Swindon Designer Outlet to expand physical retail sites
Frasers Group PLC on Tuesday said it has bought the Swindon Designer Outlet retail site in west England.
The Shirebrook, England-based owner of the House of Fraser, Sports Direct and Flannels brands said the site totals 250,000 square feet and attracts more than 3 million visitors annually.
Frasers said the acquisition supports partners’ outlet strategies and follows the acquisition of Braehead Shopping Centre in Glasgow last month.
‘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,’ said Chief Executive Officer Michael Murray.
‘This acquisition reinforces our property strategy and unlocks new opportunities for our brands and our partners.’
The financial details of the transaction were not disclosed.
Shares in Frasers were down 0.3% at 653.26 pence on Tuesday morning in London.
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