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Intu's shopping centres fall 3% in value
Takeover target Intu said this morning it has seen the value of its shopping centres drop following difficult retail conditions.
The group, which is the target of a consortium led by John Whittaker's Peel Group, said its net asset value fell 3% in the third quarter.
It "reflects current negative investor sentiment towards UK retail property" the company said.
It comes on top of a 5.6% fall in its property values in the first half of the year.
Intu - which owns Lakeside shopping centre (pictured) - said it expects like-for-like net rental income growth of up to 1% in 2018, while the aim is for 2% to 3% of growth per year over the next three to five years, although in 2019 Intu expects only 1% growth.
Shares in the company have fallen 1.41% to 198.65
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