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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Oct- 2018 -5 OctoberShopping Centres
Intu deputy chairman considers takeover bid
John Whittaker, the deputy chairman of Intu, is believed to be considering a £2bn deal to take over the shopping centre developer that owns venues such as Lakeside in Essex and the Trafford Centre in Manchester. Whittaker currently owns 27% of the company and has formed a consortium via his…
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Jul- 2018 -26 JulyShopping Centres
Intu issues rental growth warning, CEO to leave
Intu Properties has warned of lower rental income growth for the full year and also announced that CEO David Fischel is to step down. In its half-year results for the period ending 30 June Intu reported like-for-like net rental income rose by 1.3% at the lower end of its previous…
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May- 2018 -31 MayShopping Centres
Intu Chapelfield shopping centre gives shoppers space-hoppers
Intu Chapelfield in Norwich is trialing the use of space-hoppers for visitors this week as it hopes to encourage more footfall. The ‘Happy S-hopping’ initiative aims to appeal to shoppers’ childish side, with research by Intu showing that 63% of adults still get the same thrill from playing childhood games…
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Apr- 2018 -18 AprilShopping Centres
Hammerson abandons £3.4bn takeover of Intu
Shopping centre owner Hammerson has revealed it has reversed its decision to buy its rival Intu for £3.4bn. The owner of Birmingham’s Bullring proposed an all share merger with Intu in December last year which would have resulted in the UK’s biggest property company, worth £21bn. However the board…
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17 AprilShopping Centres
Intu reveals ‘record retailer demand’
Shopping centre giant Intu has reported a record level of retailer demand in the first quarter of 2018. Some 60 long term leases have been signed (43 in the UK and 17 in Spain) for £10m of annual rent, 5% above previous passing rent. David Fischel, Intu CEO, said: “Our…
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13 AprilShopping Centres
Klépierre abandons Hammerson bid after numerous rejections
Klépierre has announced that it has abandoned its attempted acquisition of Hammerson after an improved offer was rejected for the second time this week. The French firm said in a statement that it “does not intend on making an offer for Hammerson” after Hammerson’s board of directors rejected a £5.04bn…
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11 AprilShopping Centres
Hammerson rejects revised £5.04bn proposal from Klépierre
Hammerson’s board of directors has unanimously rejected a revised £5.03bn offer by French retailer Klépierre, on the basis that “it very significantly undervalued Hammerson”. The revised proposal is 635 pence per Hammerson share, comprising 50% in new Klépierre shares and 50% in cash, and is a marginal increase to Klépierre’s…
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5 AprilShopping Centres
Hammerson delays Intu takeover amid Klépierre approach
Hammerson has delayed it acquisition of British rival Intu while the intentions of French shopping centre giant Klépierre “remain unclear”. In a trading update for Hammerson’s first quarter ending 31 March 2018, it said it does not intend to finalise shareholder documents in relation to the takeover of Intu while…
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Mar- 2018 -19 MarchProperty
Hammerson rejects Klépierre takeover bid in ‘less than 24 hours’
French real estate investment fund Klépierre has confirmed its takeover bid of Hammerson was rejected in “less than 24 hours”. In a statement, Klépierre said on 8 March it made a proposal “on a non-adversarial basis” to the Hammerson board with the intention of starting “a constructive dialogue”. The offer…
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7 MarchClothing & Shoes
New Look announces CVA proposal, 980 staff at risk
Clothing chain New Look has announced company voluntary agreement (CVA) proposal that will look to close up to 60 stores, reduce rental costs and potentially make up to 980 staff members redundant. Under the proposal, the fashion retailer has identified 60 out of its total 593 stores in the UK…
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