Intu Lakeside transfers to new management

By

Sandra Halliday

Published
Nov 6, 2020

The giant Lakeside mall is the latest of Intu’s properties to transfer to new management. One of the UK’s top 10 shopping centres, it now has Global Mutual appointed as its asset manager while Savills becomes its new property manager.

Its the fourth and final Intu mall under the aegis of property firm Intu SGS to move to new management.

That mall, in Thurrock, Essex, “sits within the largest out of town retail concentration in Europe” and had annual pre-Covid footfall of over 20 million.

It also hosts a number of top brands among its 250 stores and was the focal point for the opening of the first in a planned chain of H Beauty stores by Harrods.

The mall recently saw a £72 million leisure extension anchored by Nickelodeon and should be positioned to bounce back strongly once the Covid nightmare passes.

The new asset manager, Global Mutual, currently has £5 billion of assets in its portfolio and Savills has a long UK track record record in managing prime, high-profile retail destinations. 
But the news comes as many of its stores are forced to close due to the new lockdown imposed in England this week.