RECOVERY ON TRACK
Intu on the rise after Brexit vote
CEO David Fischel says the first four months of 2017 show that the UK shopping centre owner is gaining momentum
UK shopping centre owner Intu Properties says it has experienced a recovery since the Brexit referendum held in June 2016. CEO David Fischel said the first four months of 2017 showed that Intu was gaining momentum. "The active tenant demand of last year has continued into the current year with 42 long-term leases signed in the first quarter representing £6m of annual rent, 5% above the previous passing rent. "We have attracted a number of well-known international brands such as Hugo Boss, Guess, Tesla and Tag Heuer. "We have also made further progress with our development pipeline. We are particularly focusing on creating a differentiated leisure element and 90% of the space in the Intu Lakeside extension is either exchanged or in solicitors’ hands, well ahead of the opening at the end of 2018," said Fischel. Intu’s share price is up 1.47% year to date. Its share price closed at R47.74 on Wednesday. Including share price and income growth Intu returned a negative 33.53% in 2016. Met...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.