Retail powerhouse Frasers Group has bought Swindon Designer Outlet for circa £275M as the company continues its acquisition of retail real estate.

The company acquired the 250K SF designer outlet from LaSalle Investment Management, which bought the site in January 2022 and put the centre on the market in October.

Housed inside part of old railway works, the shopping park has been owned by LaSalle since 2022 and has been managed by McArthurGlen Group.

“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,” Frasers Group CEO Michael Murray said in a statement. “This acquisition reinforces our property strategy and unlocks new opportunities for our brands and our partners.”

In November, Frasers Group bought Braehead Shopping Centre in Scotland in a deal worth around £220M, and the group was linked with taking a 50% stake in Manchester’s Arndale shopping centre in August.

The shopping centre sector is finishing the year with a slew of deals, as Bisnow previously reported, and this latest acquisition could push the total past £1.1B.

Frasers Group has rapidly expanded its portfolio, including Princesshay Shopping Centre in Exeter, Fremlin Walk Shopping Centre in Maidstone, Frenchgate Shopping Centre in Doncaster, Junction 32 Outlet Park in Castleford, Luton Point, Olympus Centre in Quedgeley, Gloucester, and St Nicholas Arcade in Lancaster. It has also acquired Scottish properties such as Overgate Centre in Dundee, the Braehead Shopping Centre in Renfrewshire, and Waterfront Retail Park in Greenock.

Earlier this month, Frasers Group reported revenue had increased 5% to nearly £2.6B for the 26 weeks ended 26 October, driven by international revenue growth of 42.8%.

Pretax profits decreased by 2.8% to £291M due to an £822.3M increase in impairments of tangible and intangible fixed assets, while an increase in interest costs of £11M was mostly offset by a £34M gain from the removal of the Coventry Arena business and an increase in premiums from investments of £41M.