The Merry Hill shopping centre has come under the sole ownership of retail group intu after it bought out its investment partner for £410 million.
Intu, which acquired half of the Brierley Hill centre from Westfield in 2014, has acquired the 50 per cent share from Queensland Investment Corporation.
The complete estate comprises the shopping centre, two retail parks, office and leisure uses along with development land, covering 229 acres.
It is the largest shopping centre in the whole of the Midlands.
Chief executive David Fischel said: "We are pleased to have been able to acquire the remaining 50 per cent interest in intu Merry Hill, some two years after our original 50 per cent acquisition in 2014.
"Our ownership and asset management to date has provided us with ample evidence of the centre's upside potential, whatever the outcome of the EU referendum."
The centre has more than 200 retail units and covers a total of 1.4 million sq ft of retail space with a further 300,000 sq ft on the adjacent retail parks.