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Intu’s centres jump in value
SHOPPING centre giant Intu posted a 7.6 per cent jump in the value of its properties in the first half of the year, increasing its net asset value per share to 372p.
The owner of the Metrocentre and Merry Hill said the rise in NAV reflected a £573m valuation gain, as strong demand from investors seeking exposure to the shopping centre market had a knock-on effect on the company.
It also signed 98 long-term leases worth £15m in annual rent.