Frasers Group has today announced that it has completed the disposal of a number of freehold and long leasehold retail parks for a headline price of £205m.
The retail parks, held previously by its wholly owned subsidiaries, have been sold to RI UK 1 Limited.
In February, Frasers Group listed 16 out-of-town retail parks for sale with an asking price of £320 million. Founder Mike Ashley accumulated the large retail portfolio through Fraser Group’s retail chains Sports Direct, House of Fraser and Flannels.
Frasers Group confirmed it intends to use the proceeds of sale towards the working capital of the company and its group operations.
The portfolio of assets is understood to include properties in Wigan, Cheshunt, Thurrock and Cheetham Hill, near Manchester, and the Berryden Retail Park in Aberdeen.
