intu sells 50% share in Derby mall in £186m deal
Shopping centre intu has sold a 50% stake in its Derby mall in a deal worth £186.3m.
Investment firm Cale Street, which is backed by London-based Kuwait Investmen Office will form a joint venture with intu to run the Derby venue.
The move comes just days after intu announced that it would look to offload some of its underperforming shopping centre stake. The firm posted a huge write-down of its assets with a loss of £1.17bn for 2018.
intu Derby has an annual footfall of 22 million. The 1.3 million sq ft centre was extended... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...