Intu Properties plc - Disposal

16 DECEMBER 2016
 

INTU PROPERTIES PLC
 

DISPOSAL OF INTU BROMLEY
 

Following the announcement on 25 October 2016, intu properties plc (‘intu’) has now completed the sale of its interest in the intu Bromley shopping centre to Alaska Permanent Fund Corporation (‘APFC’) for £177.9 million.
 

As part of the transaction, APFC have also acquired Aviva’s 21.475 per cent interest in the centre. London Borough of Bromley is retaining its 15 per cent interest and freehold of the centre, which will cease to be called intu Bromley.

ENQUIRIES

intu properties plc
Susan Marsden	Group Company Secretary	[phone]

NOTES FOR EDITORS

intu is the UK's leading owner, manager and developer of prime regional shopping centres with a growing presence in Spain.

We are passionate about creating uniquely compelling experiences, in centre and online, that attract customers, delivering enhanced footfall, dwell time and loyalty. This helps our retailers flourish, driving occupancy and income growth.

A FTSE 100 company, we own many of the UK's largest and most popular retail destinations, including nine of the top 20, with super regional centres such as intu Trafford Centre and intu Lakeside and vibrant city centre locations from Newcastle to Watford.

We are focused on four strategic objectives: optimising the performance of our assets to provide attractive long term total property returns, delivering our UK development pipeline to add value to our portfolio, leveraging the strength of our brand and seizing the opportunity in Spain to create a business of scale.

We are committed to our local communities and to operating with environmental responsibility. Our centres support over 119,000 jobs representing about 4% of the total UK retail workforce.

Our success creates value for our retailers, investors and the communities we serve.

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