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Intu Properties occupancy rate stable at 95%

Posted On Thursday, 08 May 2014 13:10 Published by
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Intu Properties says its operating metrics for January to May 8 period are broadly stable, with occupancy across its centres in London remaining high at 95%.

David Fischel

Intu Properties (ITU) said on Thursday its operating metrics were broadly stable in the January to May 8 period‚ with occupancy across its centres in London remaining high at 95% compared with the year-earlier period.

Footfall in the year-to-date was 1% higher than the same period of 2013‚ ahead of Experian's measure of national retail footfall‚ which was unchanged year on year

Intu last Friday completed a R16bn deal for stakes in two UK malls and a retail park to extend its footprint.

"The strong momentum of our development projects continues‚ with signs of increased retailer interest as the UK retail environment continues to improve‚ particularly for space in those centres where investment and improvement projects are under way or imminent‚" CE David Fischel said on Thursday.

The company said 50 new long-term leases were signed in the quarter‚ representing £8.1m of new passing rent.

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