£320m price tag
Ashley’s Frasers Group puts retail assets on sale
Frasers Group is selling a number of out-of-town retail properties in a deal that could fetch £320 million.
The leisurewear retailer, controlled by Mike Ashley, has put 16 assets on the market, including retail parks in Aberdeen, Manchester and Wigan.
M7 Real Estate has been named as a potential buyer. At the price quoted the yield would be about 7%.
Frasers has acquired retail parks, shopping parades and standalone shops over the past several years through its Sports Direct, House of Fraser and Flannels brands.
Mr Ashley is hoping to capitalise on rising investor demand for out-of-town parks which are seen to be less exposed than the high street to online retail.
Some retailers are using the larger stores format on retail parks as distribution centres and click-and-collect hubs.
One of the assets up for sale is the Berryden Retail Park in Aberdeen whose tenants include, Home Bargains, Currys PC World and Next.