It has been announced that Intu, the shopping centre operator and Queensland Investment Corporation have exchanged contracts as Intu paid £410 million to acquire the remaining 50% of the Merry Hill shopping centre.
The estate was bought in 2007 by Queensland Investment Corporation, however in 2015 they decided to exit the interest.
Intu chief executive, David Fishce, said: “We are pleased to have been able to acquire the remaining 50% interest in Intu Merry Hill, some two years after our original 50% acquisition in 2014.
"Our ownership and asset management to date has provided us with ample evidence of the centre’s upside potential, whatever the outcome of the EU referendum.”
