Intu Milton Keynes acquired by property group Ellandi

Intu Milton Keynes has appointed property group Ellandi as its asset manager.

The shopping destination has become the second of Intu’s shopping centres to be acquired since the company fell into administration in June.

Ellandi has appointed Savills as managing agent for Intu Milton Keynes. The shopping centre will continue to be called Intu Milton Keynes until eventually being rebranded, said Ellandi co-founder, Morgan Garfield.

Milton Keynes is the second of Intu’s centres that Ellandi has acquired, following Intu Merry Hill in the West Midlands.

Ellandi partner and co-founder Morgan Garfield said: “For two decades, the centre has been an incredibly important focal point for the city’s people and its economy.”

”We’re thrilled at the opportunity to continue its legacy and are committed to improving the existing offer with new operators and complementary uses. The centre will continue to support local shoppers and the wider community.”

KPMG partner and Intu administrator Jim Tucker said: “This is the third Intu centre to migrate to new management in little under two weeks, further underscoring the hard work and commitment from all stakeholders to effect smooth and orderly transitions.”