Mike Ashley's Frasers Group PLC (LSE:FRAS) has moved into the world of designer outlets with an acquisition in Swindon to continue its property shopping spree.
The owner of Sports Direct, House of Fraser and Flannels did not disclose a price for the purchase, which follows a deal to buy Scotland's Braehead Shopping Centre last month for a price thought to be around £220 million.
Frasers said buying a strategic physical retail location such as the Swindon Designer Outlet means the group "supports key brand partners' outlet strategies", name-dropping Nike, Adidas and Hugo Boss as examples.
More than 3 million shoppers come to the Swindon site each year, Frasers said, with the current website of McArthur Glen boasting that the centre includes cafes, restaurants, a children's play area and more than 100 brand outlets.
CEO Michael Murray, son-in-law of Ashley, said: "Physical retail is central to our elevation strategy and investing in Swindon - one of the UK's top five outlets by footfall - strengthens our position as both retailer and landlord.
"This acquisition reinforces our property strategy and unlocks new opportunities for our brands and our partners."