A large uplift in land values at a Spanish resort helped boost the full-year results of Britain’s largest shopping centre owner.
Intu Properties said its net asset value (NAV), a key measure in property, had risen to 411p a share in the year to December 31, up from 404p a share the year before.
It was helped by a 54% mark-up on the value of its proposed 230,000 sq m shopping resort development in Torremolinos, which offset small valuation falls at its UK regional and city malls.
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