Intu Properties PLC Disposal of Sprucefield Retail Park (4946U)

TIDMINTU

RNS Number : 4946U

Intu Properties PLC

25 November 2019

LEI: 213800JSNTERD5CJZO95

25 NOVEMBER 2019

DISPOSAL OF SPRUCEFIELD RETAIL PARK

intu properties plc ('intu') has exchanged contracts for the sale of Sprucefield Retail Park to NewRiver REIT Plc for GBP40 million, in line with the 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.

Matthew Roberts, chief executive of intu, commented:

"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 GBP268 million."

ENQUIRIES

 
                     Head of Investor Relations,    [phone] 
 Adrian Croft         intu                           1212 
                                                    [phone] 
 Justin Griffiths    Powerscourt                     1446 
 
 

NOTES FOR EDITORS

About intu

intu creates thriving, vibrant destinations where brands flourish.

Our portfolio of 20 centres in the UK and Spain consistently beats the industry standard for visitor numbers. In fact, we are the only group in Europe to attract more than ten million visitors a year to each and every centre.

With ten of the most popular out-of-town and city centre flagship destinations in the UK, our centres welcome half the population every year and provide employment for more than three per cent of the country's retail workforce.

We have worked hard to create winning destinations that are the beating heart of regions, with an irresistible blend of shopping, dining, events and leisure. intu centres are rated number one for being modern, stylish and fun; there is always something new to discover and everything we do is designed to make people smile.

We are recognised by retail and leisure brands for our unrivalled national coverage, high footfall and compelling mix, all under one roof and one brand.

We bring economic prosperity wherever we operate and we take our responsibilities as a good neighbour just as seriously with green transport plans and energy efficiency strategies for each centre.

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November 25, 2019 02:01 ET (07:01 GMT)