Our business model

By meeting the needs of customers and retailers we have built a long-term, sustainable business that delivers value for our shareholders

We have a single purpose - to create shopping centres that are loved by customers and where retailers flourish. This builds a long-term business that delivers value for all our shareholders and stakeholders.

Strategy overview

Our four strategic objectives are the means by which the business model is put into action

1. Optimising asset performance

We are achieving this by

  • making our locations the most desirable for shopping and socializing
  • astutely managing the assets to take advantage of new trends
  • building long-term partnerships with local authorities and communities

Progress in 2016

  • increased the proportion of catering in our centres with the opening of new restaurant developments at intu Metrocentre and intu Eldon Square
  • upsized key retailers, sucha as Zara and New Look, and introduced new brands to our customers including Lovisa
  • delivered growth in like-for-like net rental income

Priorities in 2017

  • continue to introduce new retailers to our centres to enhance the tenant mix. This could include online brands looking for a store presence
  • ensure we evolve the correct mix of retail, restaurants and leisure to meet changing customer needs
  • continue to deliver growth in like-for-like net rental income

 

2. Delivering UK developments

We are achieving this by

  • delivering the required planning approvals
  • generating the required level of demand to commence a project
  • having the required funding to progress the pipeline

Progress in 2016

  • began construction of the major extension at intu Watford
  • signed Nickelodeon to anchor the leisure extension at intu Lakeside
  • commenced the construction of a flagship store for Next at intu Metrocentre, amalgamating 12 units
  • achieved planning approval for a retail and leisure extension at intu Braehead

Priorities in 2017

  • ensure the extension at intu Watford remains on target
  • complete ongoing hotel development at intu Lakeside and commence restaurant development at Manchester Arndale
  • begin the redevelopment of intu Broadmarsh, the leisure extension at intu Lakeside and the enclosure and extension of Barton Square at intu Trafford Centre
  • resolve planning issues at intu Milton Keynes

3. Making the brand count

We are achieving this by

  • offering a distinctive customer signature experience in all our centres
  • having the best-in-class digital offering for retailers and customers
  • delivering continued world class service to retailers and shoppers

Progress in 2016

  • increased retailers trading on intu.co.uk to over 480 increasing sales generated through the website to £6 million
  • secured national brand sponsorship for the Christmas grottos with Playmobil
  • ensured high levels of customer service with consistently strong net promoter scores

Priorities in 2017

  • build on the success of our national sponsorships and bring in new brands
  • further the reputation of intu.co.uk as a premium content publisher and shopping platform
  • deliver new signature experiences across all centres
  • increase revenues from in centre and online initiatives

4. Seizing the growth opportunity in Spain

We are achieving this by

  • building a platform of the best centres in Spain through acquisition and development
  • delivering the same brand experiences in Spain as in the UK
  • moving the development options forward to a point where we can consider exercising them and commencing development

Progress in 2016

  • improved operating metrics at both centres
  • delivered improved occupancy on the retail park at Puerto Venecia
  • achieved local planning approval and completed land assembly for intu Costa del Sol

Priorities in 2017

  • gain final regional planning approval and required level of pre-lets to commence the intu Costa del Sol development
  • complete development of underutilized space at intu Asturias
  • increase the exposure of the intu brand in Spain

Our purpose is to put a smile on the face of our customers. We want them to be happier after a visit to our centres than when they walked though the door.

David Fischel

Chief executive, intu

Our assets and resources

We have unique assets and resources that provide the foundations for our business

Our centres

National coverage of prime retail and leisure destinations visited by more than half the UK's population

Our brand

A nationwide shopping centre brand focused on enriching the customer both in centre and online

Our employees

Professional, motivated and  empowered teams that are specialists in their field

Our relationships

Enduring, creative and collaborative relationships with retailers, customers, employees, partners and communities

 

What we do

We apply the intu difference - our specialist knowledge, expertise and insight - to create the most popular shopping centres:

..and how we do it

Delivering compelling shopping experiences

Our insight and management of centres attract customers more often, for longer and from further away by offering the right mix of retail, leisure and catering alongside our distinctive brand proposition

Helping retailers flourish

Our scale, flexibility, high-footfall locations and strong brand give retailers the confidence that they will trade successfully with intu, which drives capital growth

The value we add

We deliver sustainable value for our stakeholders and shareholders

1.3%

growth in footfall

70

average net promoter score

47%

reduction in carbon intensity since 2010

8

rise in engagement index since 2011

4.6%

total property return