{"id":163201,"date":"2020-10-27T12:19:48","date_gmt":"2020-10-27T12:19:48","guid":{"rendered":"https:\/\/www.theindustry.fashion\/intu-metrocentre-acquired-by-developer-sovereign-centros\/"},"modified":"2021-08-06T12:08:45","modified_gmt":"2021-08-06T12:08:45","slug":"intu-metrocentre-acquired-by-developer-sovereign-centros","status":"publish","type":"post","link":"https:\/\/www.theindustry.fashion\/intu-metrocentre-acquired-by-developer-sovereign-centros\/","title":{"rendered":"Intu Metrocentre acquired by developer Sovereign Centros"},"content":{"rendered":"<p><strong><a href=\"https:\/\/www.theindustry.fashion\/intelligence\/intu-metrocentre\">Intu Metrocentre<\/a> has been acquired by real estate developer Sovereign Centros, as the assets of former landlord Intu <a href=\"https:\/\/www.theindustry.fashion\/intu-confirms-appointment-of-administrators\/\">continue to be sold<\/a>.<\/strong><\/p>\n<p>The company will serve as asset manage for the centre on behalf of owners, the Metrocentre Partnership, while<strong> Savills will take on the responsibility for the on-site property management.<\/strong><\/p>\n<p class=\"cp_paragraph _2P6kD _4Ne3D\">Sovereign Centros confirmed there is a <strong>\u00a325 million budget available to improve the centre and adjoining retail park.<\/strong><\/p>\n<p>The shopping destinations name and branding will remain in place for an interim period, before a new name is finalised.<\/p>\n<p>Chris Geaves, Sovereign Centros Chief Executive, said in a statement: \"This is a very important day. We are delighted to be taking the centre over. There are clearly challenges for us all at this time but we want to take the centre back to where it was as The Metrocentre, which the local community was always very proud of.<\/p>\n<p>\"<strong>Our aim is to inject new life with vigour with different uses to ensure that it remains the place to come to for a very long time<\/strong>.\"<\/p>\n<p>Earlier this month fashion retailer <a href=\"https:\/\/www.theindustry.fashion\/in-pictures-nexts-debuts-beauty-stores-at-intu-watford-and-intu-milton-keynes\/\">Next\u00a0opened its new beauty concept, The Beauty Hall from Next<\/a>, in former Debenhams sites at Intu Watford and Intu Milton Keynes, now also opening a third site at Intu Metrocentre.<\/p>\n<p>Since entering administration in June 2020, <a href=\"https:\/\/www.theindustry.fashion\/intu-sells-derby-shopping-centre\/\">Intu Derby<\/a>,<a href=\"https:\/\/www.theindustry.fashion\/intu-milton-keynes-acquired-by-property-group-ellandi\/\"> Intu Milton Keynes<\/a>, <a href=\"https:\/\/www.theindustry.fashion\/intu-potteries-appoints-new-management\/\">Intu Potteries<\/a>, <a href=\"https:\/\/www.theindustry.fashion\/intu-watford-transferred-to-new-management\/\">Intu Watford<\/a> and <a href=\"https:\/\/www.theindustry.fashion\/intu-victoria-centre-transferred-to-new-management\/\">Intu Victoria Centre<\/a> have all been sold or transferred to new management.<\/p>\n<p><a href=\"https:\/\/www.theindustry.fashion\/subscribe-now\/?utm_source=website&amp;utm_medium=banner&amp;utm_campaign=insight_button&amp;utm_content=insight_button_0719\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-143048 size-full\" src=\"https:\/\/www.theindustry.fashion\/wp-content\/uploads\/Screenshot-2020-05-11-at-18.39.04-2.png\" alt=\"\" width=\"1680\" height=\"268\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p> [&hellip;]<\/p>\n","protected":false},"author":49,"featured_media":140802,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[6,10494],"tags":[16253,13819,16251,16252,35,10417,16089,16254],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Intu Metrocentre acquired by developer Sovereign Centros - TheIndustry.fashion<\/title>\n<meta name=\"description\" content=\"Intu Metrocentre has been acquired by real estate developer Sovereign Centros, as the assets of former landlord Intu continue to be sold. The company will\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.theindustry.fashion\/intu-metrocentre-acquired-by-developer-sovereign-centros\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Intu Metrocentre acquired by developer Sovereign Centros - TheIndustry.fashion\" \/>\n<meta property=\"og:description\" content=\"Intu Metrocentre has been acquired by real estate developer Sovereign Centros, as the assets of former landlord Intu continue to be sold. 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