Time Retail Partners has been appointed by Ellandi as joint leasing and professional advisors on Merry Hill shopping centre.
The Merry Hill estates extends to a 1.4m sq ft shopping centre, 3 retail parks, a bus station, 10,000 free car parking spaces and a vibrant Waterfront with a growing evening economy
Ellandi have confirmed an investment commitment of £50m in the next 5 years to transform the asset. The first phase of this plan is in relation to a leisure and F&B development, as well as a number of keys deals which are in the pipeline and will be announced in due course.
Tony Carroll, director at Time Retail Partners, commented, “It’s fantastic to be appointed alongside JLL on Merry Hill, an asset with massive potential. Merry Hill performs extremely well and there is a huge opportunity to elevate it further with our asset enhancement strategy. The owners recognise this and have committed £50m to achieve the business plan over the next 5 years to turn this into the go to destination in the West Midlands. It is a hugely exciting time to be working on Merry Hill.”
Peter Wrigley, head of professional services at Time Retail Partners, added: “I am delighted that this appointment has fully endorsed Time Retail Partners’ collaborative ‘one team’ approach to leasing and lease advisory. The owners recognised the benefit of leasing and lease advisory experts working seamlessly alongside each other to ensure maximum benefit from the new incoming retailer and leisure occupiers we are targeting, alongside an extensive programme of lease renewals, regears, and relocations with existing occupiers”.