Frasers Group has snapped up Swindon Designer Outlet as the retail giant continues to grow its property portfolio.
The Flannels owner said its recent purchase forms part of its vision of “building the planet’s most admired and compelling brand ecosystem”.
Swindon Designer Outlet spans 250,000 sq ft and welcomes over 3 million visitors annually. It includes Nike, Adidas, Boss, Levi’s and Polo Ralph Lauren as tenants.
Frasers Group 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 acquired Braehead Shopping Centre in Glasgow. The outlet spans 1 million sq ft, making it the country’s largest retail and leisure destination. It welcomes 15 million visitors each year.
The retail giant recently reported its pre-tax profits had almost doubled to £412.1m in the 26 weeks to October 26, up from £268.6m the year before.
Its property portfolio saw a 47.7% increase in revenue to £38.7m in the half, due to the annualisation of its acquisitions last year, which included Doncaster’s Frenchgate, Exeter’s Princesshay, Maidstone’s Fremlin Walk, and Affinity outlets.
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