Intu makes solid leasing progress with several new brands

Intu Properties updated the market on its leasing activity on Thursday, reporting that Mazda, Shortlist Media, Monki, Oliver Bonas and Typo were among the latest brands to sign new leases with the owner and manager of UK and Spain shopping centres.

The FTSE 250 company said highlights from its latest leasing snapshot, covering the period from August, included new openings for Debenhams - anchoring the £180m Intu Watford extension and featuring the department store's first ‘Beauty Hall of the Future’ concept - with 24 new brands and two dining options.

It said Swedish fashion retailer Monki, part of the H&M Group, was launching its latest store at Intu Eldon Square in November, taking 3,700 square feet of space, while Oliver Bonas signed up for a 2,000 square foot store at intu Chapelfield in September.

Australian stationery and gifting retailer Typo was opening at three Intu centres including 1,250 square feet at intu Watford's new extension, which opened in September, and Abercrombie & Fitch opened its new 5,554 square foot store at Intu Trafford Centre in September - the first of the brand's eight new prototype stores to be launched in Europe.

The company also reported that the trend of retailers upsizing to create flagship stores had continued, with Next opening one of its biggest stores in the UK at Intu Merry Hill in August.

At 55,000 square feet, it was nearly double the size of its previous store at the centre.

Primark was also opening an extended new store at Merry Hill, by expanding into a former BHS to create 70% more space.

Intu said it was also further increasing the leisure and experiential offering at its centres, announcing a partnership with Mazda to bring virtual driving experiences to five centres.

Stylist Live, hosted by a number of lifestyle, fashion and beauty brands, with talks from a number of influencers, experts and celebrities, came to Intu Trafford Centre during October, which the firm said attracted “tens of thousands” of visitors.

Meetspace VR was launching ‘Zero Latency’ - a free-roam, multiplayer virtual reality (VR) gaming experience - with the first site in the UK at Intu Victoria Centre in Nottingham in October.

InmotionVR, another VR offering, was set to roll out its content creation, motion platforms and proprietary content management at four Intu centres, and Rock Up, a climbing and adventure centre, opened at Intu Watford in September with 8,450 square feet of double height space.

“Despite wider industry challenges, exciting, innovative brands are choosing our prime locations which offer a compelling mix of retail, leisure and experience, and deliver reliably high footfall,” said Intu Properties chief executive David Fischel.

“This demand shows just how important winning destinations like ours are to customers and brands alike; where customers come for not only the very best choice of shops and brands under one roof, but also that all-important shopping day-out experience.

“The highly successful opening of Debenhams at our brand new intu Watford extension is a great example of how landlords can collaborate closely with retailers to help them deliver the very best destination stores that create value for their both their business and customers.”