Frasers Group acquires retail park in Wigan
Sports Direct owner Frasers Group has bought a retail park in Wigan as it looks to expand its property operations.
The Mike Ashley-led retail vehicle has said it acquired the Robin Retail Park in Wigan for an undisclosed sum.
Frasers Group told investors that the move demonstrated its commitment to “investing and elevating bricks and mortar retail”.
The retail park, which has a large Sports Direct store as well as an anchor Next store, was only purchased by Otium Real Estate last March in a deal worth more than £12 million. Frasers said it plans to “elevate” the site with new retail concepts.
It is the latest retail park acquisition by the firm, after it snapped up the Berryden Retail Park in Aberdeen in October.
Retail Parks have been the most resilient UK shopping destinations during the pandemic as they have been buoyed by their large open spaces and often have larger supermarkets on site.
Last month, the British Retail Consortium said retail park footfall for January was down 40.9% year-on-year, compared with a 78% decline for all retail areas.
Michael Murray, Head of Elevation at Frasers Group, said: “We plan to transform this retail park into a modern, aspirational shopping destination for the local area.
“We are excited to bring our new elevated retail concepts to Wigan and breathe new life into the area.”