Frasers eyes £400m deal for two UK-based designer outlet centres

Mike Ashley's Frasers Group is reportedly looking to add two more centres in York and the East Midlands to its growing retail portfolio.

This follows the group's acquisition of the Swindon outlet centre last year.

Frasers Group is said to be looking to acquire the two UK designer outlet centres, which are currently managed by McArthurGlen, for around £400 million from Aviva Investors, according to commercial real estate platform CoStar.

The York Designer Outlet is a 350,000 sq ft centre located 10 minutes from York city centre. It hosts over 100 designer and premium brands across fashion, sportswear and homeware, with tenants including M&S, H&M, Nike and Paul Smith.

The East Midlands Designer Outlet is a 230,747 sq ft centre on Normanton Road in the East Midlands. Here, shoppers can shop from 65 designer brands, including Boss, Tommy Hilfiger, Adidas and Nike.

Frasers Group has been heavily investing in expanding its retail property portfolio with a flurry of recent acquisitions. In December 2025, it acquired the 250,000 sq ft Swindon Designer Outlet, which opened in 1997 and attracts over three million visitors annually. It is also managed by the McArthurGlen Group.

Frasers Group said at the time that, with strategic physical retail locations like Swindon, it was supporting "key brand partners’ outlet strategies - including Nike, Adidas and Boss”.

Michael Murray, CEO of Frasers Group, commented that the Swindon acquisition reinforced its property strategy. He added: "Physical retail is central to our ‘Elevation Strategy,’ and investing in Swindon - one of the UK’s top five outlets by footfall - strengthens our position as both retailer and landlord."

In November 2025, Frasers Group acquired the 1.1 million sq ft Braehead Shopping Centre near Glasgow. This followed the acquisitions of four shopping centres in July and October 2024.

In the summer of 2025, Frasers Group announced that it had secured a £3 billion credit facility to support its rapid growth - a mix of term loans and revolving credit facilities that replaced the group’s previous £1.65 billion arrangement.

The facility is valid for three years, with extension options of up to five years, and includes the potential for a further £500 million.

Frasers Group declined to comment.