Mike Ashley’s Frasers Group has acquired Swindon’s Designer Outlet, one of the UK’s busiest retail destinations, marking the latest move in the company’s fast-growing property portfolio.
The popular shopping center – housed in the heritage-listed former Great Western Railway Works – attracts more than three million visitors each year and has been sold by LaSalle Investment Management, which only bought the site in 2022.
Frasers Group CEO Michael Murray said the deal underlines the company’s commitment to investing in physical retail as a core part of its “elevation strategy”.
“Physical retail is central to our expansion strategy and investing in Swindon – one of the top five footfall stores in the UK – strengthens our position as both a retailer and landlord,” said Murray. “This acquisition strengthens our real estate strategy and opens up new opportunities for our brands and our partners.”
The branch, which opened in 1997, was previously operated by McArthurGlen before moving to LaSalle. The acquisition represents another major shopping center expansion for Frasers Group, following its acquisition of Braehead Shopping Center in Scotland last month.
The FTSE-listed company, controlled by founder and majority shareholder Mike Ashley, now owns a growing portfolio of retail centers across the UK alongside its Frasers department store chain and brands such as Sports Direct, Game, Jack Wills and Evans Cycles.
Industry analysts said the move underlines Frasers Group’s ongoing strategy of combining retail ownership with property investment – a model that gives it significant leverage over rents, tenants and prime retail locations at a turbulent time for the high street.
