Just two months after saving iconic retail brand House of Fraser (HoF) from the administration, billionaire Mike Ashley has now paid £95m for the freehold to its iconic Glasgow building.
Michael Murray, head of elevation at Sports Direct, confirmed the development as he told media: “We are overwhelmed and proud to own such an iconic destination. Acquiring the freehold enables us to elevate and invest in the store in order to partner with a broad range of luxury brands in future.”
The iconic store on Buchanan Street, which includes Hermes, Christian Louboutin, Prada and Gucci, would continue to operate as Frasers once the agreement completes.
Glasgow City Council leader Susan Aitken added that the deal was a “clear vote of confidence” in the city.