Investing.com – Frasers Group Plc () is considering a £500 million ($667 million) bid for Metrocentre, one of the UK’s largest shopping centers, Sky News reported Saturday. The Gateshead site attracted 16 million visitors last year.
Knight Frank is running a sale process for the shopping center, with initial bids expected next month, according to the report. , the London-listed commercial property group, has already expressed interest in buying the property.
Metrocentre was previously part of Intu, the retail property group that collapsed in 2020 after accumulating £4.5 billion in debt. The shopping center remains the UK’s biggest regional shopping hub outside London and will mark the 40th anniversary of its official opening later this year.
Frasers, which owns Sports Direct and other retail brands, has recently expanded its property portfolio. In its half-year results announced in December 2025, the company said it continued to invest in shopping centers and retail parks “at attractive yields,” with acquisitions including sites at Greenock and Almondvale. The company completed a £217.6 million acquisition of Braehead retail park near Glasgow after that period.
A Frasers spokesperson told Sky News that an update on the company’s property investments will be given when it reports full-year results next month. The group declined to comment on its potential interest in Metrocentre.
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