Intu Properties announces the acquisition of two UK-based regional shopping centres and a retail park for R15,4bn (GBP867.8m).
Intu says it will buy two regional malls and a retail park in the UK for R16bn from Australian shopping centre giant Westfield.
Intu Properties continues to see signs of recovery in the UK economy with a series of positive retail sales figures and improved consumer sentiment.
Intu and Canada Pension Plan Investment Board announce a partnership agreement to acquire Parque Principado Shopping Centre.
JSE-listed Intu Properties’ share price fell 2.12% to trade at R49.87 by 3pm on Thursday after the UK property company reported an unchanged 5p interim dividend per share for the six months ended June and a 2.9% drop in like-for-like net rental income.
Intu Properties plc says the UK retail environment remains difficult with retailers continuing to be cautious in entering into store commitments.
The share price of Intu Properties, the UK’s biggest mall owner, has been under pressure in recent weeks, creating a buying opportunity for investors looking for offshore diversification.
South African investors have the opportunity to subscribe for up to half GBP300m that is raised through a share placement by UK-shopping centre group Intu Properties.
Liberty International says it has seen a much lower level of retailer failures in the first quarter of this year compared with the same period last year.

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