Frasers Group has announced its acquisition of Swindon Designer Outlet for an undisclosed amount, in a move the company said strengthens its position in the outlet retail format and supports its wider property strategy.
Swindon Designer Outlet is a 250,000 sq ft site, which opened in 1997 and draws more than three million visitors a year.
According to Frasers Group, the site forms part of its plan to work more closely with key brand partners such as Nike, Adidas and Boss, by securing strategic retail locations across the UK.
The purchase comes a month after the group acquired Braehead shopping centre, signalling continued momentum in Frasers Group’s expansion of its portfolio.
Michael Murray, chief executive of Frasers Group, 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.”
Frasers Group was advised on the deal by James Keany, executive director and head of national agency at CBRE.
