Frasers Group sells 'some' retail parks for £205m

Frasers Group said it has completed the sale of some retail parks for £205 million.

The company, which owns the Sports Direct and House of Fraser chains, said the disposal included a number of freehold and long leasehold retail parks held by its wholly-owned subsidiaries to RI UK 1 Ltd.

“Frasers Group fascias will operate from leases within these properties where appropriate. Frasers Group in the ordinary course of business purchases and sells properties from time to time,” it said in London Stock Exchange filing.

“The company intends to use the proceeds of sale towards the working capital of the company and its group operations.”

Reporting by Frank Prenesti at Sharecast.com