Princesshay shopping centre sold to Frasers Group

Nicola Wheeler, chief executive of InExeter, said: “Princesshay is an important part of the commercial heart of Exeter and this is a vote of confidence in Exeter’s future.

“We’re really looking forward to working with Frasers Group in the way we have with the previous owners to make sure this brings wider benefits to the city both in terms of its retail and leisure offer.”

Alongside the purchase of Princesshay, Frasers Group has also bought Fremlin Walk Shopping Centre in Maidstone and The Olympus Centre in Quedgeley.

Michael Murray, CEO of Frasers Group plc said: “The acquisition of Princesshay, Fremlin Walk and The Olympus Centre reinforces our commitment to investing in physical retail.

“Securing properties which serve as the primary retail destination for the community remains a top priority for us.”