Billionaire Mike Ashley’s retail empire has acquired two discount shopping destinations as part of its growing property portfolio. Frasers Group revealed the purchase of York Designer Outlet and East Midlands Designer Outlet, which collectively draw nearly 7.8 million shoppers annually.

Although the transaction value was not disclosed, estimates suggest it could be approximately £400 million. Frasers, known for its ownership of various retail chains like Sports Direct and House of Fraser, has been steadily expanding its property holdings nationwide.

Michael Murray, Mr. Ashley’s son-in-law and CEO of Frasers Group, expressed the company’s ambition to further increase its presence in the UK outlet market. This recent acquisition follows Frasers’ purchase of Swindon Designer Outlet in December and Braehead Shopping Centre in Scotland in November.

In addition to these properties, Frasers also owns several other shopping centers across the UK. The company’s annual report emphasizes its focus on property investments to drive growth and revitalize retail hubs in the UK.

The York Designer Outlet, spanning 250,000 square feet with 120 retailers, and the East Midlands Designer Outlet, covering 170,000 square feet with over 65 designer brands, attract millions of visitors annually. Mr. Murray highlighted the strategic importance of these acquisitions in strengthening partnerships with global brands and driving mutual value.

Mike Ashley, the bold entrepreneur behind Frasers Group, started his retail journey over three decades ago with a small store in Maidenhead. Today, the group boasts a market value of nearly £3 billion, operates over 1,500 stores in the UK, employs over 30,000 staff, and has a presence in more than 30 countries.