Landsec outbid the speculated buyers of the shopping centre, Frasers Group, founded by Mike Ashley (the former owner of Newcastle United Football Club) with a bid of £516 million.
As of March 2026, Landsec’s retail occupancy sits at a 96% occupancy rate, showing key growth over the last five years. Large areas of the Metrocentre have been empty for some time, however, new international businesses have entered the shopping mall in recent years. Well known brands such as Søstrene Grene and Kenji moved into the Green Mall in November 2025 and February 2026 and returning brands, Hollister and Urban Outfitters have moved into the Red Mall.
...Steven Mason, a supervisor at HMV working with the Metrocentre marketing team said: “Yeah, they’re really excited about it. We are hoping they’ll be doing something with Metroland...
In an interview with The Courier, Steven Mason, a supervisor at HMV working with the Metrocentre marketing team said: “Yeah, they’re really excited about it. We are hoping they’ll be doing something with Metroland, and be working with local artists.”
With the acquisition of the Metrocentre to be finalised by the end of October 2026, Landsec will now own three out of the top ten shopping centres in the UK, and eight out the top 30 centres in the UK.