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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Mar- 2020 -30 MarchShopping Centres
Hammerson suspends dividend after collecting just 37% of Q2 rent
Shopping centre owner Hammerson has revealed it collected only 37% of its Q2 rent bill and has suspended its dividend amid the coronavirus outbreak. In a trading update released this morning (30 March), Hammerson said that with figures adjusted for rent deferred, switched to monthly payment, and a nominal proportion…
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26 MarchCoronavirus
Intu receives only third of rent
Intu revealed that it has received only 29% of its second quarter rent that was due from tenants on 25 March. For the same period last year, it had received 77% on the quarter day, and the group is now in discussions with its customers regarding the outstanding rents. In…
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13 MarchShopping Centres
Intu warns of its future amid £2bn loss
Shopping centre owner Intu has warned of its future if it cannot raise extra funds, after it reported a £2bn loss for the year ending 31 December 2019. In the update announcing the news, the owner of Intu Lakeside and Manchester’s Old Trafford centre, said there is “material uncertainty” in…
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4 MarchShopping Centres
Intu abandons £1bn equity raise plans
Intu revealed it has abandoned plans to raise between £1bn and £1.5bn in emergency cash, citing “current uncertainty” in the equity markets. The retail property group had previously announced it was reviewing a “range” of options to fix its balance sheet and establish a “more appropriate” long-term capital structure. In…
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Feb- 2020 -7 FebruaryNews
Pets at Home appoints new chairman
Pets at Home has appointed Ian Burke as its new chairman following an “extensive” internal and external search process. The group initially said it was looking to appoint a successor to outgoing chair Tony DeNunzio in its interim results last November. Since 2017, Burke was chair of Studio Retail Group,…
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Jan- 2020 -28 JanuaryShopping Centres
Intu continues disposals by offloading Spanish shopping centre
Shopping centre owner Intu has offloaded its second Spanish shopping centre as it attempts to fix its balance sheet. The company confirmed that a joint venture company through affiliates of Intu properties and Canada Pension Plan Investment Board has exchanged contracts to sell Intu Asturias shopping centre to the ECE…
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20 JanuaryProperty
Intu seeks £1bn of emergency funds
Intu has announced it will seek to raise equity in its efforts to fix its balance sheet. The commercial real estate giant said it was a “number one priority” to make progress in its strategy to fix the balance sheet, which included targeting an equity raise alongside its full year…
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10 JanuaryHigh Street
Game to shutter 40 UK stores
Video game retailer Game has confirmed it intends to shutter 40 stores throughout the UK. To date, 13 sites have had notice served including existing Game sites in Mansfield, Canterbury, Watford, Glasgow Fort and Leicester. On 8 January notice was served on a further 14 sites impacting outlets owned mostly…
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Dec- 2019 -20 DecemberShopping Centres
Westfield named best shopping centre in the UK
Westfield London and Westfield Stratford has been named the best shopping centres in the UK, for the second year running. According to GlobalData’s Top 50 Shopping Centres Report for 2019, Bluewater in Greenhithe, Kent was ranked in third place, followed by Intu Trafford Centre in Manchester. Intu Lakeside, Sheffield’s Meadowhall…
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Nov- 2019 -29 NovemberShopping Centres
Intu drafts in PwC advisers
Intu properties has appointed PwC advisers to help the restructuring of its balance sheet. According to Sky News, the shopping centre has hired PricewaterhouseCoopers (PwC) to work alongside its existing City advisers. It is understood the appointment has taken place in the last few days ahead of the festive period.…
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