Intu Properties to acquire two UK shopping centres‚ retail park for R15,4bn

Posted On Wednesday, 26 March 2014 12:26 Published by
Rate this item
(0 votes)

Intu Properties announces the acquisition of two UK-based regional shopping centres and a retail park for R15,4bn (GBP867.8m). 

David Fischel

Intu Properties on Thursday announced the acquisition of two UK-based regional shopping centres and a retail park for £867.8m.

Intu‚ formerly known as Capital Shopping Centres and owner of some of the UK's largest malls‚ would acquire Westfield Merry Hill‚ Westfield Derby and Sprucefield.

"The acquisition strengthens Intu's position as the leading owner‚ developer and manager of prime UK shopping centres‚ filling in gaps in our national coverage and extending the footprint of our nationwide consumer-facing brand and digital strategy‚" CE David Fischel said.

Intu had established a partnership with global investor QIC at Merry Hill‚ he said. The deal would be funded by new debt facilities totalling £423.8m and the company planned to raise £500m in a rights issue.

Last modified on Wednesday, 26 March 2014 12:35

Most Popular

Investec Property Fund launches first REIT sustainability-linked ESG bond in Africa

Apr 22, 2021
Darryl_Mayers_CEO
Investec Property Fund (‘IPF’ or ‘the Fund’) today became the first South African real…

Rethinking office space in post pandemic SA

Apr 20, 2021
90_Rivonia_results
Since the beginning of the pandemic, one of the biggest questions in real estate has been…

4 simple rules to getting a good credit score

Apr 21, 2021
Carl_Coetzee_BetterBond_CEO
Make buying your dream home an informed purchase by knowing your credit score.

EPP’s new app takes tenant relations to the next level

Apr 22, 2021
Tomasz_Trzósło
Johannesburg Stock Exchange listed EPP, Poland’s biggest retail landlord, continues to…

Western Cape ripe with affordable housing potential

Apr 20, 2021
Tuhf_Hi_res24
The TUHF Western Cape regional team believes that even though COVID has had an impact on…

Please publish modules in offcanvas position.