TIDMINTU
Intu Properties PLC
05 December 2018
5 December 2018
intu properties - Leasing update
Primark, Flannels, Hugo Boss, Jack Wills, G-Star RAW, Tessuti,
Slim Chickens, and Bershka are the latest brands to open stores
with intu, the owner, manager and developer of some of the UK's
most popular retail destinations, as it builds on its resilient
operational performance.
Highlights from intu's latest leasing update, covering the
period from October 2018 to 30 November 2018, include a range of
retail, leisure and experiential offerings across the UK.
New leasing activity
Primark is the latest in a long line of major tenants to upsize
its operations at intu Merry Hill, following Topshop, River Island
and JD Sports in taking additional space at the centre. The
flagship Primark store is now 70 per cent larger, extending into
the lower level of a former BHS unit, whilst luxury retailer of
contemporary clothing, Flannels, has secured an 11,000 sq ft space
on the upper level of intu Merry Hill's former BHS. The new
Flannels concept store will feature custom bold prints and fabrics
that can be interchanged, allowing the store to evolve throughout
the seasons. Showcasing a range of luxury fashion brands, this new
store will focus on customer experience, as Flannels invests in the
entrance and till point areas while also launching a luxury Click
and Collect service.
The success of intu Watford's GBP180 million extension continues
with Hugo Boss taking 3,550 sq ft respectively alongside eateries
Côte Brasserie and MOD Pizza who will open in the destination's
brand-new dining area. The centre's 400,000 sq ft extension already
boasts a new Debenhams concept store as well as Jack Wills,
Superdry, New Look and H&M as Watford climbs into CACI's top 20
national rankings for the best retail destinations alongside
Edinburgh and Bristol. The 23,626 sq ft Hollywood Bowl and 9-screen
IMAX Cineworld will also anchor the space, opening ahead of
Christmas.
Jack Wills has opened two more stores at intu; a 3,873 sq ft
store at intu Metrocentre and a 3,385 sq ft unit at intu Lakeside,
both following the recent success of its store at the intu Watford
extension. These new openings at two of the UK's top ten shopping
centres, as ranked by data analytics company GlobalData, will
feature the brand's heritage-inspired designs, classic styles and
iconic loungewear. intu Metrocentre and intu Lakeside will also see
the denim brand G-Star RAW open 2,454 sq ft and 2,500 sq ft spaces
respectively. These openings reflect the continued attraction of
intu centres with intu Metrocentre seeing a number of retailers
including Quiz, Bodycare and Footasylum increasing their store
space to showcase their full ranges.
Premium fashion brand Tessuti will be opening a new store at
Manchester Arndale. The move sees the designer brand's owner, JD
Sports Fashion plc committing to a total 12,500 sq ft of space, as
its menswear store Scotts also upgrades to a larger location in the
centre adjacent to Tessuti. This marks an impressive year for
Manchester Arndale with Scandinavian fashion brand Monki and
American brand Gap also joining the centre.
St David's, Cardiff, sees new stores for restaurant Slim
Chickens and fashion label Bershka, whose new contemporary 8,500 sq
ft store, situated on the Upper Grand Arcade, has been designed by
an in-house team with the space providing a concept-led look and
feel. Meanwhile, Slim Chickens, known for its signature hand
breaded and cooked to order chicken, secured its first franchised
restaurant outside London as it takes a 2,400 sq ft space. This
follows the restaurant's significant growth in America, boasting
over 80 outlets across the continent. Ed's Easy Diner, who are
upsizing their space in the centre, will become Slim Chickens' new
neighbour on St David's bustling and growing ground floor dining
area, taking demand for an increased leisure offer. Both are due to
launch before Christmas.
Additionally, Watches of Switzerland has unveiled its newly
refurbished store at the centre, meaning its offer now includes an
enlarged TAG Heuer boutique, and Panerai, an Italian brand with
Swiss technology.
David Fischel, intu chief executive, commented:
"Demand for space at intu centres remains high, with established
brands clearly seeing the benefits of expanding their footprint in
our prime, high footfall shopping centres. Our winning
destinations, which benefit from intu's ongoing investment and an
evolving retail environment, appeal to both heavyweight names and
exciting innovative brands who continue to seek flagship stores in
prime locations. The winning combination of retail and leisure in
our centres creates a compelling environment for our customers who
are seeking the widest possible choice of brands and experiences
for a full day out in one convenient location."
-End-
ENQUIRIES
Mazar Masud, Victoria Heslop
Powerscourt
Tel: 020 7250 1446
Mark Thomson, Ceyda Phillips
intu
Tel: 020 7887 7011
NOTES FOR EDITORS
intu owns and manages some of the best shopping centres, in some
of the strongest locations, in the UK and Spain.
Our UK portfolio is made up of 17 centres, including ten of the
top 25, and in Spain we own three of the country's top 10 centres,
with advanced plans to build a fourth.
We are passionate about creating compelling experiences, in
centre and online, that make our customers smile and help our
retailers flourish.
We attract over 400 million customer visits and 26 million
website visits a year offering a multichannel approach that truly
supports retail strategies. In 2017, we launched the UK's first
tailor-made promotional services model to help brands as they look
to optimise their portfolio or expand their UK coverage.
Our strategic focus on prime, high-footfall flagship
destinations, combined with the strength and popularity of our
brand, means that intu offers enhanced footfall, dwell time and
loyalty. This helps our retailers flourish, driving occupancy and
income growth.
We are committed to our local communities, with our centres
supporting over 120,000 jobs (representing about 3 per cent of the
total UK retail workforce), and to operating with environmental
responsibility. We have already met or exceeded a significant
number of our 2020 environmental targets.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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