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INTU PROPERTIES PLC - Disposal of Sprucefield Retail Park

Release Date: 25/11/2019 09:00
Code(s): ITU     PDF:  
 
Wrap Text
Disposal of Sprucefield Retail Park

Press Release
INTU PROPERTIES PLC
(Registration number UK3685527)
ISIN Code: GB0006834344
JSE Code:     ITU
LEI: 213800JSNTERD5CJZO95

25 NOVEMBER 2019

DISPOSAL OF SPRUCEFIELD RETAIL PARK

intu properties plc (‘intu’) has exchanged contracts for the sale of Sprucefield Retail Park to
NewRiver REIT Plc for £40 million, in line with the June 2019 valuation.
Sprucefield Retail Park is located in Lisburn, Northern Ireland and comprises of 231,000 sq ft
of retail space in five units, anchored by Sainsburys and B&Q.


Matthew Roberts, chief executive of intu, commented:
“We announced our new strategy at the interim results in July. A key element of this is fixing
the balance sheet which includes creating liquidity through disposals. We are pleased to
conclude this transaction, which along with the part-disposal of intu Derby and other sundry
asset sales in 2019 brings the year to date disposals total to £268 million.”

ENQUIRIES
 Adrian Croft             Head of Investor Relations, intu           +44 (0)20 7960 1212
 Justin Griffiths         Powerscourt                                +44 (0)20 7250 1446


JSE SPONSOR
Merrill Lynch South Africa (Pty) Limited


NOTES FOR EDITORS
About intu
intu creates thriving, vibrant destinations where brands flourish.
Our portfolio of 20 centres in the UK and Spain consistently beats the industry standard for
visitor numbers. In fact, we are the only group in Europe to attract more than ten million
visitors a year to each and every centre.
With ten of the most popular out-of-town and city centre flagship destinations in the UK, our
centres welcome half the population every year and provide employment for more than three
per cent of the country’s retail workforce.
We have worked hard to create winning destinations that are the beating heart of regions,
with an irresistible blend of shopping, dining, events and leisure. intu centres are rated
number one for being modern, stylish and fun; there is always something new to discover
and everything we do is designed to make people smile.
We are recognised by retail and leisure brands for our unrivalled national coverage, high
footfall and compelling mix, all under one roof and one brand.
We bring economic prosperity wherever we operate and we take our responsibilities as a
good neighbour just as seriously with green transport plans and energy efficiency strategies
for each centre.

Date: 25-11-2019 09:00:00
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