Intu Properties continues disposals programme – Intu Properties (INTU) has sold Sprucefield Retail Park to NewRiver REIT for £40m, in line with its June 2019 valuation. Sprucefield Retail Park is located in Lisburn, Northern Ireland and comprises of 231,000 sq ft of retail space in five units, anchored by Sainsburys and B&Q. Intu has a portfolio of 20 centres in the UK and Spain
Matthew Roberts, chief executive of INTU, said: “We announced our new strategy at the interim results in July. A key element of this is fixing the balance sheet which includes creating liquidity through disposals. We are pleased to conclude this transaction, which along with the part-disposal of Intu Derby and other sundry asset sales in 2019 brings the year to date disposals total to £268m.”
About INTU
INTU owns and manages shopping centres in the UK and Spain. The company’s UK portfolio is made up of 17 centres, and in Spain they own three centres, with advanced plans to build a fourth. They focus on prime, high-footfall flagship destinations
According to the company, its centres attract around 400mn customer visits and 26mn website visits a year. Our strategic focus on prime, high-footfall flagship destinations. INTU’s centres support nearly 130,000 jobs (representing about 3 per cent of the total UK retail workforce).
INTU: Intu Properties continues disposals programme