Next stop Meadowhall? Frasers Group reportedly eyeing mall buy

By

Sandra Halliday

Published
Jan 16, 2024

We know that Frasers Group has ambitions to build an even bigger retail empire than it already has. And that it has expanded into shopping centre ownership. But if reports are to be believed, it could be eyeing up one of the UK’s key super-malls.

Meadowhall in Sheffield is for sale with an asking price of around £750 million and The Times reported on Tuesday that Frasers is mulling what would be its biggest retail property investment so far.

The mall is owned by retail property giant British Land and Norges Bank, which put it up for sale last year.

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Frasers has registered interest in the sale — as have a number of other parties — a source told the newspaper. Of course, that doesn’t mean it will buy it. And Frasers is well known for wanting to buy assets at bargain prices.

But regardless of that, what will the eventual buyer get? A mall that’s the UK’s fifth largest, covering 1.4 million sq ft. It has 290 stores and hosts around 24 million visitors a year.

Buying it would dwarf the £58 million Frasers paid for The Mall in Luton, the £30 million paid for Dundee’s Overgate Centre and the £50 million paid for Junction 32 in Castleford.

Those buys are another reflection of the group’s belief in physical retail that has also seen it opening a large number of physical stores for its brands.