Frasers Group has acquired the 1.1 million square foot Braehead Shopping Centre in Glasgow from SGS UK Retail, in a deal believed to be worth around £220 million.

The seller, SGS UK Retail, which also owns the Victoria Centre in Nottingham and Harlequin Watford, has overseen a major transformation programme at Braehead since completing a restructuring process in 2024. This work has helped secure a series of new tenants, including the first SuperPark in the United Kingdom, an indoor leisure and recreation attraction due to open early next year.

Other recent arrivals at the centre include Miniso, Snowflake Gelato and BPerfect.

Claire Barber, chief executive of SGS UK Retail, said:
“The sale of Braehead was always part of our strategic plan and, through active management, we have delivered substantial value enhancement and successfully stabilised the asset, attracting new brands and increasing its relevance and appeal to customers. We have created a strong platform from which Frasers Group can continue to drive growth, leveraging its retail expertise to further unlock Braehead’s potential as one of Scotland’s leading retail destinations.
“In light of strong leasing performance and the significant progress made in discussions with brands, we continue to see major value creation opportunities across the Group’s remaining three assets.”

Michael Murray, chief executive of Frasers Group, said:
“This acquisition is an important step in delivering our property ambitions and accelerating the Elevation Strategy. It strengthens the Group’s position as a leading operator and supporter of physical retail destinations while creating more opportunities to serve communities with the best brands, environments and experiences possible.”

Frasers Group was advised by CBRE, while JLL acted for SGS UK Retail.

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