The shopping centre, which was taken over by Ellandi last year, is set to be developed into a new family entertainment leisure district, following an investment of £50M.
A consortium of lenders, led by Well Fargo, is investing the £50M that will be used to transform the shopping centre into a leisure destination, with an estimated timescale of five years set to complete the transformation. According to Ellandi, the existing leisure features at the centre will undergo upgrades and will also be better connected to the main mall.
The shopping centre houses more than 250 retail brands including such names as Primark, Asda, H&M and Marks and Spencer. A further 22 units, totalling a space of over 230,000sq ft are currently in negotiation or under offer.
“Despite the pandemic, Merry Hill has seen footfall outperforming city centre locations and other super-regional shopping centres, but we can’t rest on our laurels. Our plans will ensure that by 2025 Merry Hill will be the West Midlands’ most vibrant family lifestyle destination, embedded at the heart of the local community.” Ellandi Co-Founder, Mark Robinson said.
