Frasers Group snaps up Braehead Shopping Centre expanding retail network

British retail giant Frasers Group is continuing its retail network expansion with the acquisition of Renfrew’s Braehead Shopping Centre.

The Scottish site was offloaded by SGS UK Retail, which initiated a transformation of the shopping centre as part of a wider restructuring at the company, strengthening its market position and sales performance.

According to SGS chief executive officer, Claire Barber, the sale of Braehead was always part of the strategic plan. “We have created a strong platform from which Frasers Group can continue to drive growth, leveraging its retail expertise to further unlock Braehead’s potential,” Barber added.

For Frasers, meanwhile, the acquisition marks a continuation in the group’s Elevation Strategy, part of which has revolved around the expansion of a “high-potential” retail portfolio, previously described as a “top priority” by CEO Michael Murray.

Speaking on this latest move, Murray said: “It cements the group’s position as a leading operator and champion of physical retail destinations while unlocking greater opportunities to serve communities with the best brands, environments and experiences possible.”

Spanning 1.1 million square feet, Braehead has reportedly “out-performed the Scottish market in the last 12 months”, with footfall and spending to the end of June increasing 3 and 4 percent year-on-year, respectively. The centre is due to unveil an indoor leisure and recreation concept early next year, and has continued to welcome strong demand from new and existing occupiers.