CONFIRMED: Mike Ashley buys Overgate
The Sports Direct owner had been in talks with the Dundee shopping centre for months
Last updated 24th Mar 2023
Controversial businessman Mike Ashley has bought Dundee's Overgate Shopping Centre.
His company Frasers Group confirmed the acquisition this morning.
Frasers also owns other brands like Sports Direct, Jack Wills and USC.
It is expected the empty Debenhams retail space could be filled by some of the groups other brands.
The news also follows the Group’s recent purchase of The Mall Shopping Centre, in Luton.
James France, Group Head of Real Estate said: “We’re pleased to have acquired this leading retail destination in Dundee.
"Not only do the acquisitions of both Overgate Shopping Centre, and The Mall in Luton, bolster our commitment to the long-term future of physical retail but they further demonstrate our commitment to injecting new life into key shopping destinations across the UK and Europe.”
Frasers Group has vowed to work with Dundee City Council to "continue its growth".
Chris Geaves, Chief Executive, Sovereign Centros said: “We are delighted to be involved with this acquisition.
"Dundee is one of those prime locations with a captured catchment where retailers trade well and we are looking forward to implementing our business plan.”