Register to get free articles
Want unlimited access? View Plans
Already have an account? Sign in
Frasers Group has acquired the 1.1 million sq ft Braehead shopping centre from SGS UK Retail in a £220m deal.
The purchase adds one of Scotland’s largest retail destinations to the group’s holdings and forms part of its wider expansion strategy.
The transaction follows a restructuring and refinancing of SGS in 2024, after which the group carried out a transformation programme across its assets. Braehead’s performance has strengthened over the past year, supported by rising footfall, brand demand and operational improvements.
Braehead, which draws more than 15 million visitors each year, has reported footfall up by 3% and spend up by 4% year-on-year to the end of June. The centre has outperformed the Scottish Retail Consortium–KPMG 12-month sales average, supported by sustained demand from new and existing occupiers, with 16 brands renewing or extending leases so far in 2025.
Claire Barber, chief executive of SGS UK Retail, said the sale aligned with its long-term plans. She said: “The sale of Braehead was always part of our strategic plan and through active management, we have delivered substantial value enhancement and successfully stabilised the asset, attracting new brands and increasing its relevance and appeal to customers.
“In light of strong leasing performance and the significant progress made in discussions with brands, we continue to see significant value creation opportunities in the Group’s remaining three assets.”
Michael Murray, chief executive at Frasers Group, added: “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.”
Frasers was advised by James Keany, executive director and head of national agency at CBRE. Nick Hart, head of strategic transactions – UK capital markets at JLL, advised SGS.
