Intu suffers footfall decline amid “robust” rental income growth

SAHAR NAZIR | February 20, 2019

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Intu has reported a decline in footfall in its shopping centres last year but revealed its growth in rental income was “robust.” In the year to December 31, shopper numbers decreased by 1.6 per cent. Intu said the result still outperformed the national ShopperTrak average for retail destinations, which decreased by 3.5 per cent. Meanwhile, it recorded a 0.6 per cent uptick in like-for-like rental income. However, net rental income was at £450.5 million, down on the £460 million it posted in the previous year. Despite this, Intu made a £1.17 billion loss in 2018 compared with £227.2 million pre-tax profit the previous year.This came as the company saw £1.4 billion wiped off the value of its property portfolio to £9.2 billion.Intu secured 248 new leases last year and generated £39 million in new rent. The shopping centre giant also invested £201 million in all of its sites during the financial year, including spending £67 million on the 380,000sq ft extension of Intu Watford.

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Online Shopping International Inc.

Our flagship site is: http://savingsmall.biz with several specialty sites currently under development. Our company: Online Shopping International was created to capitalize on the explosion of online shopping. Many consumers are turning to online shopping as an environmentally friendly way of purchasing products and services at huge savings. We offer a wide selection of major retailers that have products encompassing a broad range of goods and services to the consumer at prices discounted from 15% to 70% below the price found by walking into the same store. Consumers are also assured that the item is in stock so they avoid the disappointment of making a trip to the store only to find the item they want is unavailable.

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