London, December 13, 2025
Frasers Group, owned by Mike Ashley, has acquired the Swindon Designer Outlet, a major 250,000 sq ft shopping centre in Swindon, UK, from LaSalle Investment Management. The deal, announced on December 9, 2025, is part of Frasers Group’s strategy to expand its physical retail portfolio amid a recovery in UK shopping centre footfall and sales.
Acquisition Strengthens Retail and Property Holdings
Michael Murray, CEO of Frasers Group, described the acquisition as a move that “strengthens our position as both retailer and landlord,” supporting the company’s broader “elevation strategy” for physical retail assets. This purchase adds to Frasers Group’s growing presence in key retail hubs across the UK, signalling a shift towards investment in high-footfall locations despite long-term challenges facing the retail sector.
Details on the Swindon Designer Outlet
The Swindon Designer Outlet has been operational since 1997, situated on the historic Grade II-listed former Great Western Railway Works site. The shopping centre comprises over 100 brand outlets, cafes, restaurants, and a children’s play area. It attracts more than 3 million visitors annually, underscoring its status as a significant retail destination in the region. Frasers Group was advised on the transaction by James Keany, Executive Director at CBRE. The financial terms of the deal remain undisclosed.
Frasers Group’s Recent Expansion in Retail Property
This acquisition follows Frasers Group’s recent purchase of other major retail properties, reflecting an accelerated physical retail investment strategy. In November 2025, Frasers acquired the Braehead Shopping Centre near Glasgow, a 1.1 million sq ft facility with roughly 15 million annual visitors, for around £220 million. Earlier in 2024, the group added other centres including Princesshay in Exeter and Fremlin in Maidstone, Kent, to its portfolio. There is also ongoing interest reported in acquiring a 50% stake in Manchester’s Arndale shopping centre.
Implications for the UK Retail Sector
Frasers Group’s expanding retail and property footprint highlights a notable trend of retailers diversifying into landlord roles to better control physical shopping environments. This approach leverages the group’s existing retail brands such as Sports Direct, potentially enhancing leasing strategies and consumer experiences. Amid a broader retail sector recovery, these acquisitions may influence the trajectory of shopping centre revitalisation and investor confidence in UK brick-and-mortar retail assets.
As Frasers Group continues to integrate retail operations with strategic property ownership, the industry will watch closely how this dual approach impacts competitiveness and consumer engagement in a rapidly evolving market.