London, December 09, 2025
Mike Ashley’s Frasers Group has acquired more than one million square feet of retail space across three major shopping centres in the UK, including sites in Exeter, Maidstone, and Gloucester, marking a key strategic investment in physical retail in December 2025 to capitalize on the resurgence of high street shopping.
Frasers Group’s largest purchase within this acquisition is the Princesshay Shopping Centre in Exeter, a 600,000-square-foot property bought jointly with US asset manager Nuveen and the Crown Estate. The combined annual footfall of the three shopping centres is approximately 17 million, reflecting strong potential for retail growth and revitalization. The company’s CEO, Michael Murray, emphasized that investing in brick-and-mortar retail remains a top priority, with aims to integrate new concepts and unlock growth opportunities through these acquisitions.
The acquisition reflects Mike Ashley’s wider strategy to strengthen his control over the UK retail sector through property and brand investments. Frasers Group has been expanding its influence by obtaining stakes in various retail and leisure assets, alongside these critical property investments. This move aligns with ongoing efforts to reshape the UK retail landscape amid changing consumer behavior.
This initiative also signals confidence in recovering retail footfall following challenges posed by e-commerce growth and the pandemic’s impact on physical stores. By securing substantial retail space in key regional shopping centres, Frasers Group positions itself to benefit from renewed consumer interest in in-person shopping and high street revitalization efforts supported by both private and public sectors.
These purchases mark a significant chapter in Frasers Group’s expansion and illustrate a broader trend of renewed investment in UK retail real estate. The company’s growing portfolio and physical retail focus could influence future retail market dynamics as high streets continue to evolve in response to economic and social trends.