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Sports Direct International plc Acquisition of property in Glasgow

Sports Direct International plc (LON:SPD) announced that it has, through its wholly owned subsidiary SDI (Propco 66) Limited, agreed to acquire the heritable interest in 21/31 Buchanan Street, 8 & 24/28 Mitchell Street, 140/142 Argyle Street, 148/152 Argyle Street, 35/53 Buchanan Street and 34/50 Mitchell Street, Glasgow from Glasgow City Council as administering authority for The Strathclyde Pension Fund.

Sports Direct intends to continue to operate the Property as Frasers and will invest in the Property to further elevate and enhance this iconic department store. The consideration payable for the Property is £95m, which will be funded from the Group’s cash resources. Completion is to take place in January 2020.