Frasers Group buys Swindon Designer Outlet

(Sharecast News) - Mike Ashley's Frasers Group said on Tuesday that it has bought the Swindon Designer Outlet. No financial details were given, but Frasers said the deal marks "a meaningful step towards achieving the group's vision of building the planet's most admired and compelling brand ecosystem".

The designer outlet, which opened in 1997, totals 250,000 sq. ft and attracts more than 3 million visitors annually.

Chief executive Michael Murray 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."

Last month, Frasers - which owns Sports Direct, House of Fraser, Flannels and Evans Cycles, among others - announced the acquisition of the Braehead Shopping Centre in Glasgow, Scotland's largest retail and leisure destination.