What: Frasers Group is considering purchasing a 50% stake in Exeter's Princesshay shopping centre for around £40 million, marking its potential first joint venture with The Crown Estate.

Why it is important: This potential acquisition signifies Frasers Group's strategic move to expand its retail footprint through high-profile investments in key shopping centers. By targeting prime retail estates, Frasers Group aims to strengthen its market presence and leverage lucrative commercial real estate opportunities.

Frasers Group is the leading contender to acquire a 50% share in Princesshay estate in Exeter, currently owned by Nuveen and managed by The Crown Estate. The estate, generating over £9 million annually, includes a 400,000 sq ft shopping center with major retailers like Zara, Next, and Superdry. This acquisition aligns with Frasers' recent pattern of buying significant retail properties, following purchases in Luton, Dundee, and Leeds. If successful, this venture would be Frasers' first passive investment in a shopping center, potentially signaling a strategic shift in its property investment approach.

Frasers Group mulls stake in key Exeter shopping centre