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Retail giant Frasers Group has bought Swindon Designer Outlet for a reported £275 million.

Frasers Group buys Swindon Designer Outlet

Retail giant Frasers Group has bought Swindon Designer Outlet for a reported £275 million.

The Sports Direct owner said the acquisition marked “a meaningful step towards achieving the Group’s vision of building the planet’s most admired and compelling brand ecosystem.”

“Through acquisitions of strategic physical retail locations like Swindon, Frasers Group supports key brand partners’ outlet strategies – including Nike, adidas, BOSS – and aims to serve consumers across the UK with the best value and product offerings,” it said.

Swindon Designer Outlet, which opened in 1997, totals 250,000 sq. ft and attracts over three million visitors annually.

The announcement follows just a month after the Group’s strategic acquisition of Braehead Shopping Centre.

Michael Murray, CEO of Frasers Group, said: “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.

“This acquisition reinforces our property strategy and unlocks new opportunities for our brands and our partners.”

Frasers Group was advised by James Keany, Executive Director, Head of National Agency at CBRE on this acquisition.

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24.09.2021

Business Biscuit
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