'Hugely exciting' sale of Merry Hill shopping centre is finalised as 'new era' begins

Merry Hill will join Victoria Leeds, The Liberty Romford, and Clayton Square Liverpool, in Redical’s growing portfolio.

Miles Dunnett, Merry Hill director, said: “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.

“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.”

Mikko Syrjanen, co-founder of Redical, added: “We are delighted to have completed the purchase of Merry Hill, an asset perfectly aligned to our strategy of creating a portfolio of core plus assets, each of which dominates its catchment, reflects the needs and wants of its consumers, and has unrealised potential.”

The sale follows the successful transformation of Merry Hill over the last five years, following the collapse of its previous owner at the start of the Covid-19 pandemic.

Under the leadership of the directors, assisted by Sovereign Centros from CBRE as asset manager and Savills as property manager, the shopping centre's fortunes have been bolstered by a significant investment programme which has helped attract multiple new brands and services, facilitated long-term recommitment from several existing tenants, diversified the offer and boosted the visitor experience.

The initiatives helped footfall return to 15 million in 2025 and achieved a 4.3 per cent year-on-year increase in sales.

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.”

Jonathan Poole, centre manager at Merry Hill, added: “I am proud to lead the passionate and committed team whose hard work over the past five years has helped transform Merry Hill into the success it is today.

“It’s hugely exciting to move forward into a new era with Redical, which will open up even greater opportunities to build on our industry-busting results and ensure everyone continues to have a wonderful experience each time they visit.” 

Merry Hill directors, Miles Dunnett, an experienced leader in retail, and Russell Downs, a leading restructuring expert, led the sale, with advice from Knight Frank on the sale and Simmons & Simmons and Pinsent Mason on legal matters. 

Redical was advised by DLA Piper, RSM and Addleshaw Goddard.