The owner of Sports Direct, the Frasers Group – which also owns the Frasers departments store – has completed a deal to buy the Braehead Shopping Centre.

Braehead is home to more than 100 retailers including Ikea, Primark and Marks & Spencer and is among Scotland’s busiest shopping centres.

In a statement, Frasers Group said the acquisition is a “significant addition” to its “strong and growing portfolio”.

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SGS UK, which bought Braehead in 2020 after its previous owner went bust, said it has been able to “stabilise” the centre before it was sold.

“The sale of Braehead was always part of our strategic plan and through active management, we have delivered substantial value enhancement, attracting new brands and increasing its relevance and appeal to customers,” the firm’s CEO Claire Barbour said.

“We have created a strong platform from which Frasers Group can continue to drive growth, leveraging its retail expertise to further unlock Braehead’s potential as one of the leading retail destinations in Scotland.”

Frasers Group also owns the Overgate Centre in Dundee and the Waterfront Retail Park in Greenock.

“This acquisition is an important step in delivering our property ambitions and cements the group’s position as a leading operator and champion of physical retail destinations while unlocking greater opportunities to serve communities with the best brands, environments and experiences possible,” Frasers Group CEO Michael Murray said.