Retail shopping centre Merry Hill has been put up for sale with offers reportedly being sought in region of £250m.

Situated in Brierley Hill, the 1.4m sqft retail and leisure complex – which is home to a number of furniture retailers including DFS, Homesense, Harvey Norman, NCF Living, Wren and Next – has undergone a recent £125m investment programme.

The owners have instructed Knight Frank to market the retail site, which is now over 96% let. Recent investments include the implementation of 2,700 solar panels – generating 25% of its electricity use – and over 100 electric vehicle charging points.

In a statement, the Merry Hill board said: “The last few years have been transformational for Merry Hill, as investment, proactive asset management, and an effective leasing programme have combined to return it to its rightful place as a top 10 UK mall.

“Merry Hill is primed for the next stage of its journey, with several initiatives planned to cement its position in the super-regional hierarchy. Consequently, now is the right time for a new owner to take on an asset that is thriving to realise further value.”