LONDON Nov 5 British shopping centre owner Intu
Properties said it may seek partners to help it fund
its 1 billion pound ($1.6 billion) pipeline of projects, and
said it was seeing strong demand from retailers for space as the
Intu, which owns some of Britain's biggest malls, plans to
invest 1 billion pounds ($1.6 billion) over the next 10 years to
refurbish and expand its properties, which include the Lakeside
centre in Essex, southern England, and Victoria centre in
"Funding for our 1 billion pound pipeline of projects will
include recycling of existing assets as well as the possible
introduction of partners into major assets," it said on Tuesday,
adding that it that the program was progressing well.
The company, which changed its name from Capital Shopping
Centres in February, said occupancy in the period July 1 to Nov.
5 was unchanged from June at 95 percent by rent, and that it had
signed 57 long-term leases in the quarter, generating 11 million
pounds in rent.
It also said it was encouraged by signs of improvement in
the UK consumer environment which was driving retailer
confidence and demand for space.
Shares in Intu closed at 345.8 pence on Monday, valuing the
company at 3.34 billion pounds.