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Intu Properties PLC (INTUP.L)

INTUP.L on London Stock Exchange

237.50GBp
12 Dec 2017
Change (% chg)

-2.10 (-0.88%)
Prev Close
239.60
Open
241.00
Day's High
241.00
Day's Low
235.30
Volume
11,431,749
Avg. Vol
6,082,965
52-wk High
298.30
52-wk Low
188.90

Latest Key Developments (Source: Significant Developments)

Intu Properties Plc and Lasalle Investment Management creates JV to own Intu Chapelfield ​
Thursday, 2 Nov 2017 

Nov 2 (Reuters) - INTU PROPERTIES PLC :‍INTU PROPERTIES PLC AND LASALLE INVESTMENT MANAGEMENT ANNOUNCE CREATION OF A JOINT VENTURE TO OWN INTU CHAPELFIELD​.‍LASALLE WILL ACQUIRE A 50 PER CENT INTEREST IN PROPERTY FOR NET CONSIDERATION OF £148 MILLION​.‍INTU WILL CONTINUE TO MANAGE CENTRE ON BEHALF OF JOINT VENTURE​.  Full Article

Intu Properties Plc anticipates positive like-for-like net rental income in 2017​
Thursday, 2 Nov 2017 

Nov 2 (Reuters) - INTU PROPERTIES PLC :‍OCCUPANCY REMAINS HIGH AT 96 PERCENT FOR PERIOD FROM JULY 1 TO NOV 2, UNCHANGED FROM JUNE 2017​.‍WE ANTICIPATE POSITIVE LIKE-FOR-LIKE NET RENTAL INCOME FOR A THIRD YEAR IN 2017​.‍FOOTFALL HAS SHOWN ENCOURAGING STRENGTH IN SECOND HALF YEAR TO DATE AT 2 PER CENT AHEAD OF SAME PERIOD IN 2016​.‍RENT REVIEWS IN PERIOD FROM JULY TO NOV HAVE BEEN CONCLUDED AT AN AVERAGE UPLIFT OF 15 PER CENT ON PREVIOUS RENTS​."‍WE EXPECT OVERALL NEW RENTAL LEVELS TO BE 15 PER CENT AHEAD OF PREVIOUS PASSING RENT"​.  Full Article

Intu Properties says bonds due 2022 to be issued at par
Tuesday, 25 Oct 2016 

Intu Properties Plc : Announces successful pricing of an offering of 375 mln stg of guaranteed convertible bonds due 2022 .Initial conversion price is 3.7506 stg per share representing a premium of 30 pct above volume weighted average price of shares between launch and pricing.  Full Article

Intu raises guidance on growth in like-for-like net rental income for 2016
Thursday, 28 Jul 2016 

Intu Properties Plc : For first six months, a 10 percent increase in underlying earnings per share driven by growth in net rental income of 7.5 percent on like-for-like basis . Established retailers, Zara and Next, upsizing space and we have welcomed new lifestyle brands and international retailers . Expect growth to be weighted to first half of 2016 because of pattern of tenant events in year .Raising our guidance on growth in like-for- like net rental income for 2016 to 3 per cent to 4 per cent range.  Full Article

Intu Properties buys remaining 50 pct of Merry Hill Estate for 410 mln stg
Monday, 20 Jun 2016 

Intu Properties Plc : Acquisition of the remaining 50 per cent of the Merry Hill Estate for 410 million stg . Deal represents an income yield of 5.2 per cent, based on net rental income of 43 million stg. . Estate comprises Intu Merry Hill shopping centre, two retail parks, office and leisure uses along with development land. . Acquisition, which is scheduled to complete shortly, is expected to be earnings accretive from completion . 500 million stg loan has been arranged, with a 2018 maturity, which will replace current 191 million stg loan facility, maturing in 2017 .Pro forma loan to value increases to 43 per cent compared with 41 per cent at 31 March 2016.  Full Article

Intu Properties buys remaining 50 pct of Merry Hill Estate
Friday, 17 Jun 2016 

Intu Properties Plc : Acquisition of remaining 50 per cent of merry hill estate for £410 million . Deal represents an income yield of 5.2 per cent, based on net rental income of £43 million. .Acquisition, which is scheduled to complete shortly, is expected to be earnings accretive from completion.  Full Article

Intu Properties confirms talks with Australia's QIC over Intu Merry Hill deal
Thursday, 16 Jun 2016 

Intu Properties Plc : Response to media comment . Intu confirms that it is in advanced discussions with QIC regarding potential acquisition of QIC's 50 per cent interest in Intu Merry Hill in West Midlands . If acquisition were to proceed, consideration is likely to be around 410 million pounds and would be funded through a combination of new debt and existing resources . Whilst discussions are ongoing, there can be no certainty that any transaction will be undertaken. .Acquisition would be funded through a combination of new debt and existing resources.  Full Article

Hammerson in 'opportunistic' 3.4 billion-pound swoop on Intu

British shopping centers owner Hammerson Plc has agreed to buy smaller rival Intu Properties for about 3.4 billion pounds ($4.56 billion) in a long-speculated deal to create a malls giant controlling 21 billion pounds of assets.