Intu is in advanced discussions with Queensland Investment Corporation to buy its 50% stake in intu Merry Hill in Dudley, West Midlands, for close to £410m.
A deal at that price would reflect a yield of just under 5.5% and give intu full ownership of the mall, in which it bought a half stake from Westfield in 2014 for £407.7m.
QIC’s stake in the 1.4m sq ft shopping centre was first offered in June 2015 with a price tag of around £500m through CBRE, but no deal was agreed.
It is anchored by Marks & Spencer and has an additional 264 shops, offices space and 47 acres of land with development potential.
