4th May 2016 06:46
LONDON (Alliance News) - Intu Properties PLC on Wednesday affirmed its net rental income growth target for 2016, as the shopping centre owner said it had seen little impact on customer footfall from any uncertainty arising ahead of the UK's vote on its place in the European Union.
Intu said it remains on track to deliver like-for-like net rental income growth of 2% to 3% for 2016. For the period from the start of 2016 to May 4, footfall grew 1.4% year-on-year, and Intu's occupancy rate was slightly higher, up to 95.3% from 94.3% a year earlier, though this represented a slight slip from 95.8% at the end of December.
Intu said it signed 43 new long-term leases for GBP7.0 million in annual rent in the first months of the year and said its UK development pipeline is on track.
"Encouragingly we have seen little impact on customer flow into our shopping centres or tenant interest for space which remains very positive despite financial markets being volatile ahead of the EU referendum vote on 23 June 2016," said Intu Chief Executive David Fischel.
"Global investors continue to look actively at prime regional shopping centres in the UK, focussing on the quality income streams provided by this asset class," he added.
By Sam Unsted; [email protected]; @SamUAtAlliance
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