Frasers Group acquires 160,000 sq ft shopping centre

Shirebrook-based retail giant Frasers Group has acquired the St Nicholas Arcade in Lancaster for an undisclosed amount.

The 160,000 sq ft shopping centre hosts retailers such as Boots, Iceland and Next.

Michael Murray, CEO of Frasers Group, said: “At Frasers, we have always been strong believers in physical retail, and this acquisition demonstrates our ongoing commitment to supporting brick-and-mortar in the UK.

“By acquiring key retail sites, we are able to unlock new growth opportunities and revitalise high streets across the country, delivering unparalleled shopping experiences for consumers. This acquisition is also another step in developing our property segment, which is set to deliver significant long-term value for the group.”

In the past 18 months, Frasers Group has expanded its retail portfolio, with recent acquisitions including the 770,000 sq ft Frenchgate Shopping Centre in Doncaster.