Metro Group raises stake in UK’s Fairbriar Real Estate to 50%

It acquired 25% additional stake for $31m.

SGX-listed Metro Group acquired an additional 25% stake in United Kingdom-based Fairbriar Real Estate Limited for $31m (£18.0m).

With the acquisition, Metro’s stake in Fairbriar rose from 25% to 50%.

Metro funded the acquisition through internal cash resources and bank borrowings.

Fairbriar is the owner and developer of Middlewood Locks mixed-use development in Manchester. The development will provide 2,215 new homes and one million square feet of commercial space.

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