Billionaire entrepreneur Mike Ashley’s retail conglomerate has acquired two discounted shopping villages, expanding its extensive property portfolio. The purchase includes the York Designer Outlet and the East Midlands Designer Outlet, popular destinations drawing nearly 7.8 million visitors annually. Although the transaction value remains undisclosed, estimates suggest it could be around £400 million.
Frasers Group, renowned for its ownership of various retailers like Sports Direct and House of Fraser, has been steadily acquiring shopping centers across the UK in recent years. The company’s CEO, Michael Murray, expressed the firm’s ambition to further increase its market share in the UK outlet sector.
This recent acquisition follows Frasers’ purchase of the Swindon Designer Outlet last December and the Braehead Shopping Centre in Scotland for approximately £220 million in November. Frasers Group also owns several other shopping centers, emphasizing its strategic focus on property investment to enhance retail operations and drive growth.
The York Designer Outlet spans 250,000 square feet with over 120 retailers, while the East Midlands Designer Outlet, covering 170,000 square feet, features more than 65 designer brands. Mr. Murray highlighted the significance of these acquisitions in strengthening partnerships with global brands and fostering mutual growth.
Mike Ashley, the brash billionaire retaining majority ownership of Frasers Group, started his retail journey over three decades ago in Maidenhead. Today, the retail giant boasts a stock market value of nearly £3 billion, operates over 1,500 stores in the UK, employs over 30,000 individuals, and has a global presence in more than 30 countries.