Administrators of intu properties plc conclude migration of intu Merry Hill
Administrators of intu properties plc conclude
The joint administrators of intu properties plc today confirm the migration of intu Merry Hill to new management.
Ellandi, which operates more than 30 shopping centres across the UK, has been appointed as the new asset manager, overseeing the operation and development of intu Merry Hill on behalf of the consortium of banks that own the centre.
Ellandi has appointed Savills as managing agent with responsibility for the day-to-day running of the centre. All existing centre staff will transfer their employment to Savills on the same employment terms, preserving 200 jobs.
Jim Tucker, partner at KPMG and joint administrator of intu properties plc, commented: “With the migration of intu’s shopping centres to new management now firmly underway, it’s pleasing to have been able to conclude the smooth transfer of this significant asset within the intu portfolio. As one of the top 10 shopping centres in the UK, Merry Hill is a prominent name on the retail landscape. We wish management and all of the employees the very best as they embark on this new chapter.”
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