January 18, 2022
At the point Intu plc went into administration, in June 2020, the lenders appointed Ellandi to take control of Merry Hill shopping centre and to stabilise a volatile situation.
Ellandi has led an intense and successful stabilisation process; ownership has been transferred away from the Intu brand, Merry Hill has been re-launched and there is strong demand from retailers to renew leases or take new space in Merry Hill. As such, Ellandi has completed its workout role and its specialist skills are no longer required.
The asset management of Merry Hill will now transfer to Sovereign Centros as the new asset new manager to advance a long-term ownership agenda for Merry Hill.
