Merry Hill Centre sold to Redical in reported £280m deal
A major Black Country shopping destination has been snapped up by urban retail operator Redical, owners of Leeds’ Victoria Gate and Clayton Square in Liverpool.
The 1.4m sq ft Merry Hill Centre, around two miles from Dudley, went up for sale with agents Knight Frank in September, with offers being invited at a reported £280m.
The final value of the deal, which was agreed in principle last year, has not been disclosed.
The centre has been owned by a consortium of lenders including Wells Fargo and AXA Investment Managers since June 2020, when previous owners Intu collapsed into administration. The 92-acre site is currently asset-managed by Sovereign Centros from CBRE.
Footfall at the centre topped 15m for the first time in 2025, on the back of a £125m investment and refreshment programme at the shopping centre and its associated retail parks which saw B&Q, Costa and Bensons for Beds all open new stores last year.
Merry Hill will now join Victoria Leeds, The Liberty Romford, and Clayton Square Liverpool, in Redical’s growing portfolio.
The Merry Hill shopping centre has been sold to Redical in a deal believed to be worth in excess of £250m. Credit: Redical
Petteri Barman, co-founder of Redical, said: “The centre team and the wider property-asset management team have done a stellar job returning Merry Hill to its rightful place among the biggest and best-performing super regional centres in the UK.
“Now, together with that team and through our tech-enabled ‘transformation through accumulation’ strategy, we intend to elevate the Merry Hill customer experience even further, beginning immediately.”
The transaction has been led by the Merry Hill Directors, Miles Dunnett, experienced leader in retail, and Russell Downs, leading restructuring expert. They have been advised by Knight Frank on the sale, and Simmons & Simmons and Pinsent Mason on legal matters.
“I am delighted to announce the sale to Redical, who is absolutely the right party to continue Merry Hill’s development as the leading super regional centre in the Midlands. I am also very grateful to our outstanding team at the centre who have worked tirelessly over the last five years,” said Dunnett.
“Merry Hill now provides an excellent customer experience, with multiple new store openings, provision of great dining experiences, and many new leading leisure venues for returning and new customers to enjoy.
“This outcome would not have been achieved without the commitment of our existing owners, who have supported us throughout Merry Hill’s transformation, and we are very pleased we have been able to achieve this outcome on their behalf.”
Redical was advised by DLA Piper, RSM and Addleshaw Goddard.
