Freeport opened one of the first European outlet centres in 1994 and quickly established itself as a major player in this specialist market.

A London-based company, Freeport achieved a full listing on the London Stock Exchange in July 1994, and was named UK Property Company of the Year in 1999.

Freeport has developed, owned and managed six Freeport centres in the UK (Castleford, Fleetwood, Stoke, Braintree, Hornsea and West Lothian) and four in continental Europe (Freeport Alcochete, Portugal, Freeport International Outlet, Czech Republic, Freeport Kungsbacka,, Sweden and Freeport Roppenheim, France).

In 2004 5 Freeport cemtres were sold as an institutional package to Hermes, the leading pension fund, although Freeport has retained a minority stake.

In 2007 Freeport was acquired by Carlyle European Real Estate Part), one of the world's leading private equity investors. With the support of CEREP, Freport has instituted a fullscale turnaround, remodelling the centres, introducing new tenants and reducing costs.

In 2011 Freeport Retail was established as a management company to provide outlet development, asset management and operations expertise to the Freeport outlets and to third party investors and developers.