Intu Properties operating metrics ‘stable’

Intu Properties (ITU) said on Wednesday that its operating metrics were stable in the January to May 6 period.

The London-based firm‚ which is listed on the JSE‚ said occupancy rates marginally reduced from 95% to 94%‚ reflecting seasonal fluctuations since Christmas.

Intu‚ which owns and operates some of the largest shopping centres in the UK‚ said it saw continued improvement in retailer demand‚ with 44 new long-term leases agreed for new annual rent of £7m.

“The continuing improvement in the letting market and overall performance at centre level are encouraging‚” CEO David Fischel said in a statement.

“We are moving forward strongly on a number of fronts and particularly with

our active development projects both in the UK and Spain.”

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