Lakeside-owner Intu lifted as shoppers spend more but rents slip

Comments Off on Lakeside-owner Intu lifted as shoppers spend more but rents slip

“The background for 2014 was more spending power from customers with disposable income beginning to rise,” said David Fischel, chief executive of Intu Properties.

 

Make-up giant MAC, Jack Wills and Carluccio’s were among the outlets to take space at some of Intu’s 19 UK shopping centres.

But the company also revealed a 3.2% fall in like-for-like rental income — the biggest decline since 2009 — because of the lingering impact of several retailers going into administration in 2012 and 2013.

Fischel said the group is “well-positioned to benefit further” in 2015 from the improved market conditions.

Plans this year include starting construction on a £110m extension to its Watford site and expanding further into Spain with a £600m planned development programme.

Source Article from http://www.standard.co.uk/business/business-news/lakesideowner-intu-lifted-as-shoppers-spend-more-but-rents-slip-10075183.html

February 27, 2015 |
Copyright © 2018 LondonBusinessLink.co.uk. All Rights Reserved. LondonBusinessLink.co.uk
WordPress Directory Theme

Classified Ads Software

We use cookies to ensure that we give you the best experience on our website.
More about our cookies
Ok
Skip to toolbar