Frasers Group in talks for £400M double outlet centre buy from Aviva Investors

If completed, the deal would give Frasers Group ownership of three of the UK's major McArthurGlen-managed outlet centres. York Designer Outlet sits near the historic city centre and draws significant tourist and leisure traffic, while East Midlands Designer Outlet on Normanton Road serves one of the UK's most densely populated catchment areas. The Swindon Designer Outlet acquired in December 2025 transacted at a yield in excess of 9%, providing a pricing reference for the current negotiations. Frasers, led by Mike Ashley, has been one of the most active UK retail real estate investors in recent years, buying shopping centres, retail parks and outlet centres as a platform for its brand ecosystem strategy.