Metrocentre set to join market leading operator, Landsec
We are pleased to announce that Metrocentre is set to join Landsec, a market leading owner and operator of major retail and leisure destinations including Liverpool One, Bluewater and Gunwharf Quays. Contracts have been exchanged for Landsec to acquire Metrocentre, and the transaction is expected to complete later this month, subject to necessary approvals and conditions.
This news comes at a time when Metrocentre is thriving, following a focused £60m investment programme led by Sovereign Centros, which has transformed the centre, driving footfall to more than 16 million visitors annually, increasing occupancy to 95% and generating retail sales of c. £650 million, alongside continued income growth.
Having received high levels of interest from a range of prospective buyers during our recent sale process, reflecting Metrocentre's position as one of the UK's premier retail and leisure destinations and the significant progress it has made in recent years, we are delighted to have struck this agreement with Land Securities Group. Its strong track record of investing in and supporting major destinations such as Metrocentre means it is well positioned to support the next phase of Metrocentre’s development.
As the transaction progresses towards completion, the team remains fully focussed on ensuring the centre continues to thrive by supporting our tenants, delighting our customers, and driving growth as a major destination in the North East.
For further information please contact metrocentre@mhpgroup.com
