Intu upbeat as economy strengthens

INTU Properties, the owner of the Trafford Centre, said it is seeing an increased appetite from consumers and retailers as the economy recovers.

In an interim management statement the group said it was beginning to see areas of increased interest from retailers, including for new brands and flagship stores, “particularly in centres where we have been or have plans for investing”.

Footfall is 1% higher on last year and occupancy across the Intu estate stands at 95%.

Intu, formerly Capital Shopping Centres, also owns half of the Arndale in Manchester and 16 other retail centres. Last week it completed the £868m acquisition shopping centres in Derby and Dudley in the West Midlands. Manchester’s Peel Group holds around 20% of the business.

Chief executive David Fischel said: “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 underway or imminent.”