intu takes full ownership of Merry Hill with £410m investment

intu takes full ownership of Merry Hill with £410m investment

The Merry Hill shopping centre, in Brierly Hill, has become solely owned by intu properties plc (intu) after it completed a purchase to acquire the reminaing 50% of the estate from Queensland Investment Corporation for £410m.

The recent purchase comes after into purchased the original 50% of the area in 2014.

The estate is made up of the into Merry Hill shopping centre, two retail parks, office and leisure space, as well as development land.

It is the largest shopping centre in the whole of the Midlands and anchored by Marks and Spencer, Debenhams, Primark, Next, Sainsbury’s and Asda, the shopping centre is 96 per cent occupied.

David Fischel, chief executive, said: “We are pleased to have been able to acquire the remaining 50 per cent interest in intu Merry Hill, some two years after our original 50 per cent acquisition in 2014.

“Our ownership and asset management to date has provided us with ample evidence of the centre’s upside potential.”

 

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