Our story is one of mergers, acquisitions, investment and growth, which has seen intu grow from its early form as the fledgling international arm of Liberty Life Association of Africa Limited (a South African financial services company founded by Donald Gordon in 1958) to a thriving shopping centre business.
Now owners of 21 shopping centres including nine of the UK’s top 20 centres, and with a growing operation in Spain, intu is an independent FTSE 100 property company, listed in London and Johannesburg.
A brilliant brand takes off
In 2013 we become intu and the rest is history
In 2013, Capital Shopping Centres Group plc (CSC) took the bold decision to establish itself as intu properties plc, and a new consumer-facing brand was born as well as the launch of the UK's first transactional shopping centre, intu.co.uk. At the same time, intu also formed of a joint venture with Bilfinger Europa to create an in-house centre management company, intu Retail Services.
- Acquisition of the remaining 50 per cent of the Merry Hill Estate for £410 million
- intu Asturias listed on the Spanish stock exchange – the Mercado Alternativo Bursatil (MAB)
- Disposal of remaining interest in Equity One
- Disposal of intu Bromley
- Acquisition of Xanadú Shopping Centre, Madrid, Spain for €530 million
- intu Puerto Venecia listed on the Spanish MAB
- Announced proposed acquisitions of Merry Hill, Derby & Sprucefield
- Acquired Midsummer Place, Milton Keynes, (opened 2000)
- Acquired Parque Principado, Spain (Joint Venture with CPPIB)
Our growth story
The business that we now recognise as intu began to take shape a long time ago...
Our story is one of building the scale for which intu would eventually become known. Our predecessor companies acquired intu Trafford Centre, intu Broadmarsh and the site for intu Braehead, plus stakes in Manchester Arndale, Cribbs Causeway, and St David’s in Cardiff. It also saw the successful opening of intu Chapelfield in Norwich and expansion of intu Lakeside and intu Metrocentre.
The steps that would lead us to where we are today, were taken with the demerger of Liberty International plc into CSC plc and Capital & Counties Properties plc in 2010. In 2012 Styleme TV Limited, the company that would form the basis of intuDigital Limited was acquired.
- Acquired full ownership of Soar (formerly Xscape), Braehead
- The Trafford Centre purchased by CSC (opened in 1998)
- Demerger of Capital & Counties; company renamed Capital Shopping Centres Group PLC
- Purchase of Broadmarsh, Nottingham (opened in 1972)
- St Andrew’s Way, intu Eldon Square
- Metrocentre Qube and Yellow Mall
- St David’s (Joint Venture with Land Securities)
- St George’s Way Mall, Eldon Square
- Conversion to REIT
- Manchester Arndale Northern Extension
- Sir Donald Gordon retires as Chairman and becomes Life President
- Chapelfield, Norwich (now intu Chapelfield)
Today we own nine of the top 20 shopping centres in the UK with a growing presence in the UK. Here's how we got there
Centre openings and key milestones
- Manchester Arndale (opened 1976) & Cribbs Causeway, Bristol (opened 1998): purchase of 50% of Prudential interest
- Metrocentre (now intu Metrocentre, Red Mall
- The Chimes (now intu Uxbridge)
- Liberty International PLC purchases remaining 25% of Capital Shopping Centres PLC, which becomes a wholly owned subsidiary of Liberty International and no longer listed separately on the stock exchange
- Braehead (not intu Braehead), Renfrewshire, near Glasgow
- TransAtlantic changes its name to Liberty International.
- Metrocentre, Gateshead (now intu Metrocentre) purchased by CSC (opened 1986)
- Shopping centres transferred to a new company (75%) called Capital Shopping Centres (CSC) which is listed on the London Stock Exchange
- Transatlantic acquires 100% interest in Capital & Counties and is listed on London Stock Exchange
- The Harlequin (now intu Watford)
- The Glades (now intu Bromley)
- Lakeside (now intu Lakeside), Thurrock
- The Potteries (now intu Potteries), Stoke on Trent
- Eldon Square (now intu Eldon Square), Newcastle
- Victoria Centre (now intu Victoria Centre), Nottingham
intu Victoria Centre
A centre that's stood the test of time for over 40 years
Taking flight in South Africa
The real story begins in 1980 when on his 50th birthday, Donald Gordon formed Garsan Limited with just an initial share capital of £10,000
- Transatlantic is listed on the Luxembourg stock exchange
- From investor to operator – Transatlantic, makes a public offer and acquires a controlling stake in Capital & Counties which remains a listed company.
- A 29 per cent interest is acquired in Capital & Counties by way of a share issue
- Garsan changes its name to TransAtlantic Insurance Holdings Limited
- Funded entirely by UK bank borrowings, a £20 million investment is made to acquire 14 per cent of Sun Life, a UK listed life insurer.