On 26 June 2020, KPMG were appointed as administrators of intu Properties PLC. Find out more

Results

Annual report 2019

We create places where visitors smile, brands succeed and communities thrive

"In a world where it is harder for retailers to increase profits, our centres offer them the best opportunity."

Matthew Roberts, intu chief executive

Read the chief executive's review

Business highlights

Our results are evidence of the challenges in the retail property market, but our operational performance remained robust

£127m

underlying earnings

£6.6bn

market value of properties

147p

ERPA net asset value per share

95%

occupancy

205

new leases

69%

reduction in carbon emissions since 2010

Read our full results

Our five-year strategy

Our strategy addresses the challenges and will position us to take advantage of the opportunities. With a largely new Board and a restructured executive team, we are already making progress

  • Fix the balance sheet
  • Simplify, enhance and drive efficiency
  • Sharpen customer focus
  • Transform our centres

Our top properties

We own, develop and manage some of the best shopping centres in some of the strongest locations in the UK

intu Lakeside

intu Lakeside offers a compelling mix of retail, catering and leisure. The award-winning extension, opened in May 2019, brings in big names such as Puttshack, Nickelodeon, and Hollywood Bowl. H Beauty, the first Harrods store in a shopping centre, arrives in spring 2020

intu Merry Hill

intu Merry Hill is the regional centre for the West Midlands and boasts powerhouse fashion brands including Primark, Next, Mango and Flannels. A £10 million external makeover has begun

St David's, Cardiff

St David’s, Cardiff is the top shopping location in Wales, with 1.4m sq ft of shopping and leisure and the only John Lewis store in the principality. New tenants this year include the Ivy, its first branch in Wales, and Zara

intu Trafford Centre

intu Trafford Centre is the only location in the UK, other than Oxford Street, that hosts John Lewis, Selfridges, Debenhams and Marks and Spencer. It is now about to welcome Primark at the new Barton Square

intu Metrocentre

intu Metrocentre is one of the largest shopping centres in Europe, with a catchment area reaching right across the northeast. Angry Birds adventure golf is the latest addition to the leisure line-up

Delivering value

Our focus is on creating vibrant retail-led destinations that are loved by our visitors and where our customers flourish. We are committed to building a business that delivers value for all our stakeholders

2.4%

percentage that our customers outperformed the national footfall benchmark by

75

the net promoter score our visitors gave us

8/10

employees rated their overall motivation in the workplace

£4.8bn

the total value of our economic contribution we made to our communities

£127m

made in underlying earnings

69%

reduction in carbon intensity since 2010, meeting our target three years early

See how we deliver value for all our stakeholders

Sustainability

We have a record of operating responsibly: over the last 10 years we have achieved most of our 2020 aspirations – meeting tough environmental targets and making a significant difference in our communities through our social programmes

Not every disability is visible

We are making our centres more accessible through initiatives such as regular quiet hours, autism awareness and Dementia Friends training. We are expanding our accessibility offering to those with disabilities that may not be immediately apparent, known as hidden disabilities.

We are the first shopping centre manager to take part in the sunflower scheme for those with hidden disabilities. As well as the sunflower lanyards and stickers, we provide dog-lead sleeves for the assistance dogs of visitors who wish to use the discreet signifier.

The campaign raises awareness among intu and retailer staff and will create a more welcoming and understanding environment for everyone.

Driving EV demand

We are meeting a growing demand for electric vehicle (EV) charging at our centres. This year we added 68 more EV bays to our network of charging points, bringing the total across our portfolio to 140. We saw a 40 per cent growth in the number of charges against 2018 and saved an estimated 201 tonnes of carbon.

To support the growth in EV demand, in July 2019 we joined EV100, a global collective and highly influential platform for addressing ongoing issues in the EV sector. Our membership shows our commitment to tackling pressing issues of local air quality and climate change by reducing pollution and associated greenhouse gas emissions generated by traffic to our centres.

Disability Confident Leaders

As our ambition is to be the accessible shopping destination of choice, we were pleased to be awarded Disability Confident Employer Leader (level 3) status. We are the first shopping centre business to hold leader status across all our centres.

Our commitment to inclusion encompasses both our staff and visitors, and our recognition as a Disability Confident Leader will make sure our recruitment, development and training processes are accessible by people with a disability, as well as helping staff understand how to treat all stakeholders, regardless of their disability.