£25.25 property disposal at intu

Shopping centres operator Intu has agreed terms to sell three properties, including two in East Midlands, for a combined value of £25.25m.

The sales includes a former BHS store located in Derby and freehold and leasehold interests in York House next to Nottingham’s Victoria Centre, as well as a substantial freehold investment located near the company’s Merry Hill shopping centre.

Commenting on the deals, David Fischel, intu Chief Executive says: “These three deals, all successfully sold at above book value, are further evidence of our commitment to dispose of non-core assets and recycle capital into our exciting development programme. All three sites will continue to benefit from being in the vicinity of hugely popular intu shopping centres which welcome millions of shoppers every year.”