Doncaster's Frenchgate centre taken over by Frasers Group in huge deal

Frasers, whose chief executive is Doncaster-born businessman Michael Murray, the son of Doncaster property and business magnate Mick Murray, who set up the all-conquering Doncaster-based Lazarus Properties, has snapped up the 770,000 sq ft shopping centre as it looks to grow its real estate portfolio.

The mall welcomes over 16 million customers a year, and houses retailers such as Next, H&M and TK Maxx.

Frasers said the deal provides an opportunity to more than triple the size of its Sports Direct shop to over 35,000sq ft and introduce more of its brands – USC, Game and Evans Cycles – into the centre.

Mr Murray said: “The acquisition of Frenchgate Shopping Centre in Doncaster further demonstrates the group’s commitment to investing into brick-and-mortar.

“Acquiring property in key trading locations to unlock new opportunities for our retail and leisure businesses, such as Sports Direct, Everlast Gyms, Frasers and Flannels, is a key priority.

“We are committed to re-inventing retail and injecting new life into high streets across the UK to bring the very best brands, environment, and experience to customers across the country.”

It comes as Frasers is thought to be in talks to buy the Princesshay shopping centre in Exeter, which is a joint venture between US-based asset manager, Nuveen and the Crown Estate.

Nuveen put its 50% share in the development earlier this year, with a reported price tag of £40m.

34-year-old Mr Murray, who took over as CEO of the Frasers Group from his father in law Mike Ashley in 2022, has reshaped the company’s focus after taking over.

Mr Murray, married to Mr Ashley's eldest daughter Anna, said Mr Ashley, is still the majority shareholder in Frasers Group as is still very much involved in the business.

He set up an events company with pal Toby Mullins, 26, after they were students at Reading University. Their club nights, where tickets cost £5 and revellers down cheap booze proved popular in the Berkshire town.

In 2016, he was first hired as a consultant by the billionaire sports mogul, who formerly owned Newcastle United Football Club and given the job of managing the Sports Direct.