Mike Ashley is lining up a £100m shopping centre swoop in a bet that the carnage in the retail property market is coming to an end.
Ashley’s Frasers Group is in advanced talks to buy the Mall in Luton and the Overgate centre in Dundee. The deals would value them at about £70m and £30m respectively.
The Mall in Luton is being sold by lender Wells Fargo, which has in effect taken control of the asset from its previous owner, Capital & Regional.
A £30m deal for Dundee’s Overgate would represent a major loss for Legal & General, which paid Landsec £125m for the asset nine years ago.
This would mark the first time Ashley has taken control of a shopping centre, although the deals may not be sealed as he is reported to be haggling over the price.
