Almost £1 billion was wiped off the value of Britain’s biggest retail landlords yesterday after a shopping centre owner warned that it may need to raise equity in the face of fast-declining rental income and property values.
In the starkest sign yet of the fallout from the commercial pressures facing the retail sector, Intu Properties said that it was considering several “self-help” measures as it reported an £840 million first-half, pre-tax loss.
Almost £1 billion was wiped off the value of Britain’s biggest retail landlords yesterday after a shopping centre owner warned that it may need to raise equity in the face of fast-declining rental income and property values.
In the starkest sign yet of the fallout from the commercial pressures facing the retail sector, Intu Properties said that it was considering several “self-help” measures as it reported an £840 million first-half, pre-tax loss.
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