Frasers Group is reportedly considering a £500 million offer for Metrocentre shopping centre in Gateshead.
The investment group is among a number of parties considering making bids for Metrocentre, according to Sky News.
Real estate firm Landsec has also “expressed an interest” in snapping up the shopping centre, which is the UK’s biggest regional shopping centre outside of London. .
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Agents from real estate firm Knight Frank have been drafted in to run a sale process of Metrocentre, with the first offers anticipated in July.
Metrocentre was previously owned by real estate investment trust Intu, before it collapsed into administration in 2020. The shopping centre’s ownership went on to be transferred to its existing lenders.
Retail Gazette has contacted Frasers Group for comment.
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