14th Jun 2018 10:25
LONDON (Alliance News) - Intu Properties PLC said Thursday it continues to see "positive momentum" in lettings after scoring new deals with several retailers.
The FTSE 250-listed real estate investment trust said that luxury British chocolatier Hotel Chocolat UK and car maker Mitsubishi Motors Corp are among the latest companies to rent stores across Intu's UK portfolio.
Hotel Chocolat, part of Hotel Chocolat Group PLC, is opening a 1,797 square feet cafe store at Intu Derby, while Mitsubishi Motors signed up with Intu to open its first-ever retail store at Intu Lakeside in Essex, the company said.
The company said that work is currently underway on a 175,000 square feet leisure development at intu Lakeside, including an outlet of Hollywood Bowl Group PLC.
"The new development will be the first retail resort concept for the South East and will bring in customers from further and for longer while helping all retailers flourish," Intu said.
The company reported that over two thirds of the retail and leisure extension at intu Watford in Hertfordshire is now let, with New World Trading Co set to open its latest venture, The Florist, there.
Australian houseware retailer, House, opens its sixth UK store at intu Chapelfield in Norwich as it works with Intu to expand across the country, the company said.
"We are seeing the continuation of two key trends: great new brands making Intu centres their first port of call as they expand their physical presence, and established retailers upsizing their units to create flagship locations that form a centrepiece of their multichannel strategy," Chief Executive Officer David Fischel said.
Intu shares were trading down 0.7% at 191.05 pence each.
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