Intu
This coverage examines Intu’s role and legacy in the UK shopping centre sector, with reporting on administration proceedings, asset sales, management changes, and the ongoing impact on tenants, landlords, and retail operations. Content is relevant for retail executives, property managers, and decision-makers assessing risks, opportunities, and strategic responses within large-scale retail property environments.
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Apr- 2021 -12 AprilShopping Centres
Hammerson mulls £350m retail park sales
Shopping centre owner Hammerson has confirmed it is in talks to complete the sale of seven retail parks to Brookfield, a Canadian private equity firm, for roughly £350m. According to the Times, the funds will be used to strengthen the group’s balance sheet, providing the quickest way for the group…
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Feb- 2021 -24 FebruaryPeople Moves
British Land appoints new non-executive director
The British Land Company has announced the appointment of Loraine Woodhouse as a non-executive director, with effect from 1 March 2021. Woodhouse will chair the audit committee from 31 March 2021 at which time her predecessor Preben Prebensen will step down from his role as interim chair of audit but…
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Oct- 2020 -27 OctoberNews
Intu offloads Gateshead Metrocentre to new owner
Sovereign Centros, a real estate operating partner, has taken over the running of the Gateshead Metrocentre from Intu. The site had been Intu’s largest asset before being acquired by Sovereign, who plan to “inject new life” into the centre with a potential £25m future investment. The firm is asset managing…
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Aug- 2020 -3 AugustCoronavirus
Hammerson taps investors for cash
Hammerson has confirmed that it is holding advanced discussions regarding a possible disposal of a stake in a European arm of its business, after suffering from unpaid rents amid the coronavirus crisis. The shopping centre landlord is now looking to sell a 50% stake in VIA Outlets to joint venture…
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Jul- 2020 -20 JulyCoronavirus
‘Hundreds’ of jobs to be axed at M&S
Marks and Spencer is expected to announce a raft of job cuts this week, becoming the latest high street casualty in the wake of Covid-19. According to Sky News, the retailer will unveil its widespread redundancy plan “within days”, with hundreds of jobs expected to be axed. It comes as…
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17 JulyShopping Centres
Intu slashes 46 head office roles
Intu has slashed 46 roles across its London head offices, following its collapse into administration at the end of June. A spokesperson for the joint administrators confirmed the news, and said that a further 15 roles have also been cut at Intu Broadmarsh in Nottingham, which was the result of…
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16 JulyComment
Intu the unknown: The future of the shopping centre
Saddled with unsustainable levels of debt and lacking rental income over the past two quarters due to Covid-19 restrictions, Intu finally announced its move into administration earlier this month. The shopping centre giant’s collapse left thousands of shops and livelihoods on the line and it represented a pivotal moment for…
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13 JulyCoronavirus
Debenhams to reopen all remaining stores in Scotland
Department store Debenhams is to reopen nine stores in Scotland from today (13 July), following the “successful reopening” of its first six stores last week. Stores in Ayr, Dumfries, Dunfermline, Edinburgh, Glasgow and Perth reopened on Monday 29 June. Whereas those in Aberdeen, Dundee, East Kilbride, Falkirk, Inverness, Leith, Livingston,…
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10 JulyShopping Centres
John Whittaker steps downs as Intu chairman
John Whittaker has reportedly stepped down from his role as chairman of embattled shopping centre owner Intu. According to Property Week, Whittaker resigned from his role as chairman and non-executive director on 26 June – the same day Intu entered administration. It also reported that Whittaker had not attended an…
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Jun- 2020 -29 JuneNews
Investors push for Trafford Centre sale
A Canadian investor is reportedly pushing for the sale of Intu’s Trafford Centre following Intu’s collapse, the Sunday Times has reported. The reports come only days after Intu collapsed into administration on Friday 26 June. Following the administration, control of Intu’s 17 shopping centres will be passed to their respective…
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