Commercial

Owner of The Mall at Cribbs Causeway loses more than a billion pounds

The owner of the Mall at Cribbs Causeway has suffered a collapse in the value of its properties after a "challenging year". Intu, which owns the shopping centre at Cribbs, saw £1.4 billion wiped off the value of its property portfolio to £9.2 billion in 2018.

The news comes as McDonald's and KFC announce they are pulling out of the centre in March. Intu has had a torrid year following two failed takeover attempts of the business and tough trading conditions that have seen swathes of retailers seeking rescue deals with creditors or falling into administration.

Full Article


Join the Discussion
Real Time Analytics