Frasers Group seals the deal with duo of designer outlets
The Mike Ashley-owned retail firm has moved quickly to acquire York Designer Outlet and East Midlands Designer Outlet from Aviva Investors, bringing around 7.8m annual visitors into its portfolio.
Although the price is undisclosed, the two assets were on the market for the £400m mark two weeks ago when Frasers entered negotiations.
York Designer Outlet has retail space spanning 250,000 sq ft and is located just outside York city centre. Home to 120 leading UK and international brands, it attracts around 4.3 million visitors annually.
East Midlands Designer Outlet has around 170,000 sq ft of retail space and is positioned near the M1 motorway. With more than 65 designer brands, it has a footfall of 3.5 million visitors annually.
CBRE advised Frasers, while Morgan Williams acted for Aviva Investors. Both outlets are managed by McArthurGlen.
Michael Murray, chief executive at Frasers Group, said: “These strategic acquisitions reinforce our vision, leveraging strong partnerships with leading global brands to unlock mutual value – supporting their outlet strategies while driving growth.
“Today, we own over one-fifth of the UK outlet market and have a clear ambition to grow our share further.”
