Frasers Group has acquired Braehead Shopping Centre in Glasgow, Scotland, adding to its rapidly expanding property portfolio.
The Sports Direct and Flannels owner said its recent purchase reinforces its commitment to investing in high-potential retail destinations.
Braehead Shopping Centre spans across 1 million square feet, making it the country’s largest retail and leisure destination. It welcomes 15 million visitors each year.
Frasers Group chief executive Michael Murray said: “This acquisition is an important step in delivering our property ambitions and accelerating the elevation strategy.
“It cements the group’s position as a leading operator and champion of physical retail destinations while unlocking greater opportunities to serve communities with the best brands, environments and experiences possible.”
Last month, the retail giant snapped up a majority stake in US luxury multi-brand retailer The Webster. It forms part of a strategic partnership between the two, which will enable Frasers to grow its luxury business and increase its presence stateside. The Webster has 13 stores across the US, in cities including New York, Miami, Los Angeles and Montecito.
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