Sovereign Centros has replaced Ellandi as the asset manager for the Merry Hill shopping centre near Dudley.
Ellandi had previously set out plans to transform the centre into a leisure “district”, as part of a £50m investment programme backed by a consortium led by Wells Fargo.
The centre was previously owned by intu before its administration in June 2020.
Sovereign Centros stated that Ellandi led an “intense and successful stabilisation process”, with its relaunch and ownership transferring away from the intu brand.
“As such, Ellandi has completed its workout role and its specialist skills are no longer required,” Sovereign Centros stated.
The firm added that it will now “advance a long-term ownership agenda” for Merry Hill.
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