Intu Properties aims to develop hotels and residential units around its malls
The shopping centre landlord, which posted abysmal six-month results, has shifted its focus away from retail assets
Intu Properties, which owns 17 malls in the UK and three in Spain, will start developing non-retail assets to support its shopping centres that continue to struggle in the wake of 2016’s Brexit referendum and competition from online retail.
The company plans to develop about 6,000 residential units including apartments and houses. The first project was launched at Intu Lakeside in Essex...