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Frasers targets up to £20B in real estate purchases over the decade
The group already owns about £2B worth of real estate and is valued at roughly 8 million square feet of retail parks and shopping centre space.
Frasers Group, led by CEO Michael Murray, plans to buy up to £20 billion of real estate over the next decade across multiple asset classes, aiming to expand its property portfolio by about tenfold, according to analysis of the firm by Bloomberg.
The company’s real estate portfolio has grown to more than £2 billion, with Bloomberg estimating Frasers owns around 8 million square feet of retail parks and shopping centre space as part of a broader 16 million square feet portfolio valued at about £2 billion.
Murray said the growth plan could involve partnerships, joint ventures, external funding, and acquisitions structured with properties that come with bonds, Bloomberg reported. Bloomberg also noted Frasers could eventually spin the property business into a separate company.
Frasers has been increasingly acting as a retail landlord as well as an occupier, giving it influence in dozens of UK towns and cities. The strategy includes building a stake in listed build-to-rent firm Grainger, and Frasers is the preferred bidder for the Worship Estate office-led portfolio in the City for £75 million, after buying Harvey Nichols from administration for about £40 million on 13 August.