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Intu
Intu Properties plc was a British real estate investment trust (REIT), largely focused on shopping centre management and development. Originally named Transatlantic Insurance Holdings plc and later Liberty International plc, it changed its name in May 2010 to Capital Shopping Centres Group plc after demerging its Capital & Counties Properties business unit to form an independent business. The company adopted the Intu name on 18 February 2013, and this was followed by the rebranding of most of its shopping centres under the Intu title from May 2013.
The company's shares were listed on the London and Johannesburg stock exchanges until it entered administration in June 2020. The company owned or part-owned 17 shopping centres in the UK and one in Spain prior to entering administration.
The company was established by Sir Donald Gordon in 1980 under the name Transatlantic Insurance Holdings plc as an offshoot of Liberty Life Association of Africa, a business he had founded in 1957. The company developed into a leading investor in life assurance businesses in the 1980s and divested its remaining life assurance interests (a 29% holding in Sun Life) in 1991. In 1992 it merged with Capital & Counties, a leading shopping centre developer, securing itself a listing on the London Stock Exchange. It changed its name to Liberty International in 1996 and, after demerging Capital & Counties Properties in May 2010, renamed itself Capital Shopping Centres Group (CSC).
The company also disposed of a significant holding in its Californian subsidiary Capital and Counties USA, which was acquired by Equity One in May 2010. Equity One was later acquired by Regency Centers Corporation.
In 2011, CSC purchased the Trafford Centre from The Peel Group and offered a 20% stake in CSC to Peel chairman John Whittaker. The 20% stake in CSC was worth approximately £700m at the time, valuing the Trafford Centre at approximately £1.65 billion. Whittaker continued to purchase shares after the takeover and became the largest shareholder in 2012, with a stake of 24.63%.
CSC purchased the Westfield Group's 75% stake in Westfield Broadmarsh in Nottingham in November 2011.
In January 2013, CSC announced its rebranding as Intu and the renaming of twelve of its shopping centres to incorporate the new consumer-facing brand. A new orange and black brand identity was introduced at the same time, including a bird logo said to represent a "symbol of joy". At the same time and in response to changing consumer behaviour, Intu launched the UK's first online shopping centre and insourced all shopping centre staff, previously employed by facilities management company Bilfinger Europa.
The company announced on 27 February 2013 that it had agreed to purchase Midsummer Place in Milton Keynes from Legal & General for £250.5 million. The sale was completed by the end of March 2013.
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Intu
Intu Properties plc was a British real estate investment trust (REIT), largely focused on shopping centre management and development. Originally named Transatlantic Insurance Holdings plc and later Liberty International plc, it changed its name in May 2010 to Capital Shopping Centres Group plc after demerging its Capital & Counties Properties business unit to form an independent business. The company adopted the Intu name on 18 February 2013, and this was followed by the rebranding of most of its shopping centres under the Intu title from May 2013.
The company's shares were listed on the London and Johannesburg stock exchanges until it entered administration in June 2020. The company owned or part-owned 17 shopping centres in the UK and one in Spain prior to entering administration.
The company was established by Sir Donald Gordon in 1980 under the name Transatlantic Insurance Holdings plc as an offshoot of Liberty Life Association of Africa, a business he had founded in 1957. The company developed into a leading investor in life assurance businesses in the 1980s and divested its remaining life assurance interests (a 29% holding in Sun Life) in 1991. In 1992 it merged with Capital & Counties, a leading shopping centre developer, securing itself a listing on the London Stock Exchange. It changed its name to Liberty International in 1996 and, after demerging Capital & Counties Properties in May 2010, renamed itself Capital Shopping Centres Group (CSC).
The company also disposed of a significant holding in its Californian subsidiary Capital and Counties USA, which was acquired by Equity One in May 2010. Equity One was later acquired by Regency Centers Corporation.
In 2011, CSC purchased the Trafford Centre from The Peel Group and offered a 20% stake in CSC to Peel chairman John Whittaker. The 20% stake in CSC was worth approximately £700m at the time, valuing the Trafford Centre at approximately £1.65 billion. Whittaker continued to purchase shares after the takeover and became the largest shareholder in 2012, with a stake of 24.63%.
CSC purchased the Westfield Group's 75% stake in Westfield Broadmarsh in Nottingham in November 2011.
In January 2013, CSC announced its rebranding as Intu and the renaming of twelve of its shopping centres to incorporate the new consumer-facing brand. A new orange and black brand identity was introduced at the same time, including a bird logo said to represent a "symbol of joy". At the same time and in response to changing consumer behaviour, Intu launched the UK's first online shopping centre and insourced all shopping centre staff, previously employed by facilities management company Bilfinger Europa.
The company announced on 27 February 2013 that it had agreed to purchase Midsummer Place in Milton Keynes from Legal & General for £250.5 million. The sale was completed by the end of March 2013.