Frasers Group has acquired Lancaster’s St Nicholas Arcade as it continues to grow its property portfolio.
The 160,000 sq ft. shopping centre is located in the town’s historic centre and welcomes almost four million visitors each year.
St Nicholas Arcade lists Next, Boots, Hmv and The Entertainer as some of its tenants.
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Frasers Group chief executive Michael Murray said: “At Frasers, we have always been strong believers in physical retail, and this acquisition demonstrates our ongoing commitment to supporting brick-and-mortar in the UK.
“By acquiring key retail sites, we are able to unlock new growth opportunities and revitalise high streets across the country, delivering unparalleled shopping experiences for consumers.
“This acquisition is also another step in developing our property segment, which is set to deliver significant long-term value for the group.”
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