Intu is planning to redevelop its portfolio of shopping centres across the UK over the next five years at an estimated cost of £1bn…
A raft of revamps are set to take place across Intu’s portfolio of shopping centres, it has emerged.
The firm is planning major renovations expected to cost in the region of £1bn over the next five years. This will include an extension of the Watford development worth £145m. Work is set to start on this project this year.
Intu Lakeside will also see a £275m refurbishment, while intu Broadmarsh will get a £70m redevelopment from the next year.
Other centres expected to benefit include Cribbs Causeway, which will get a £105m extension starting in 2019. Intu Braehead and the Victoria Centre are also set for a £200m and £275m revamp from 2019.
The work in Watford was originally set to be undertaken by BAM, but the two firms parted ways after failing to agree a price.
Intu said: “Project costs have increased as we have re-defined the scope to include existing mall refurbishments and improved ancillary services, such as upgraded car parks.
“In addition, cost inflation from the construction demand in the London area has increased the expected build costs.”
