What: Frasers Group is considering acquiring a 50% stake in Exeter's Princesshay estate, currently owned by investment firm Nuveen. This potential joint venture with the Crown Estate marks the first collaboration between the King's property company and the retail giant.

Why it is important: This acquisition could significantly bolster Frasers Group's property portfolio and strengthen its presence in the retail and leisure market.

Frasers Group, led by Mike Ashley, is the leading contender to acquire a 50% stake in Exeter's Princesshay estate from Nuveen, which has set a price tag of £40m. The estate, jointly owned with the Crown Estate, includes a substantial shopping center, car parks, and various retail and leisure properties, generating over £9.1m in annual income. If successful, this acquisition would enhance Frasers' property portfolio, which includes significant assets like The Mall in Luton and the Overgate Centre in Dundee, marking the group's first joint venture with the Crown Estate.

Frasers Group eyes stake in joint venture with the Crown Estate