What: Frasers Group is in the process of acquiring Fremlin Walk, an outdoor shopping centre in Maidstone, from M&G Real Estate as part of its ongoing expansion in the retail property market.

Why it is important: This acquisition is part of Frasers Group's strategic push to dominate the retail property sector, enabling the company to create anchor department stores and multi-brand retail spaces, thus enhancing its market presence and profitability.

Frasers Group, owned by Mike Ashley, is expanding its property portfolio by acquiring Fremlin Walk in Maidstone, a 350,000 sq ft shopping centre that generates an annual income of GBP 4.3 million. The acquisition continues Frasers' aggressive property acquisition strategy, following recent purchases of other shopping centres such as Frenchgate in Doncaster and The Mall in Luton. The group's CEO, Michael Murray, has highlighted the company's plan to use these acquisitions to create more productive and integrated retail destinations by combining various Frasers brands, including Flannels, Sports Direct, and its gym business, within the same locations.

Frasers Group expands retail property portfolio with Fremlin Walk acquisition