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Intu plans expansion at Braehead centre

BRAEHEAD-owner Intu Properties has seen a dip in its operating profits from £474.4 million to £387.1m, amid a small decline in rental income.

The company booked a rise in total revenue from £516.1m to £525.7m although net rental income was down from £364m to £362.6m.

Intu – which includes the Trafford and Arndale malls in Manchester plus the Metro-centre near Gateshead in its portfolio – said it was pleased with its activities at Braehead and the centre is 95% let.

It highlighted the success of Next, which is expanding into a new 35,000sq ft store, while catering upgrades also seem to have been well received.

A planning application for a £200m expansion covering 440,000 square feet of retail space has been lodged with Renfrew-shire Council with a possible start date of 2015 pencilled in.

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