BOSSES have confirmed that Merry Hill Shopping Centre has hit the market and is looking for new owners.
The popular shopping centre in Brierley Hill is described as being one of the UK’s top 10 and is expected to see record high footfall in 2025, its directors have said.
The centre has received £125 million in investment in recent years and is home to a £15 million leisure quarter and a neighbouring retail park.
The 92-acre site is more than 96 per cent let, with the centre saying it has experienced a “transformational” few years and is “primed” for the next stage of its journey.
Commenting on the sale, the Merry Hill Directors said: “The last few years have been transformational for Merry Hill, the West Midlands' leading retail and leisure destination.
“The centre has benefitted from over £125m of investment that’s created a re-energised and vibrant centre with a carefully chosen mix of retailers, dining and leisure experiences, all of which have returned it to its rightful place as a top 10 UK mall.
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“We are also proud of what has been achieved in terms of our environmental and social strategy.
“Merry Hill is right at the heart of the Dudley community and surrounding area, and we have adopted sustainability practices and targets that are industry-leading.
"Merry Hill is primed for the next stage of its journey, with several initiatives planned to cement its position as a leading super regional shopping destination and further enhance the important role it plays locally - both as somewhere for people to enjoy and as a major employer.
“With footfall set to break records in 2025, now is the right time for a new owner to take on this thriving multi-award-winning centre.”
Merry Hill is currently owned by a consortium of banks, including Wells Fargo and Axa Investment Management, after its previous owners, Intu, collapsed into administration in 2020.
Its asset managers are Sovereign Centros, and its leasing agents are Time Retail Partners, JLL and Font Real Estate.
Knight Frank is reported to be managing the sale, with a rumoured price tag of £250 million.
Kight Frank has been contacted for comment.
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