Intu Properties, formerly Capital Shopping Centres, the UK’s leading developer, owner and manager of prime regional shopping centres, has reported that the amount consumers spent on average catering across its estate in 2013 rose by 9%.
The company, which schemes include intu Lakeside, has over 400 catering and leisure outlets, which contribute 11% of its rent roll.
It found that those who eat or drink at one of our centres stay much longer and spend significantly more than just their extra dining expense, with around a third of visitors choosing to dine in its schemes last year.
It said that its pipeline of investments would almost double the amount of dining and recreation space it provides from 1.9 million sq. ft. to 3.4 million sq. ft., with the vast majority having obtained planning consent.
David Fischel, chief executive, said: “At intu Lakeside, for example, our catering strategy is to close the current gap between the traditional fast food offer of the food court and the casual dining Boardwalk with its roughly three times longer dwell time and spend.
“We are introducing a range of new operators such as Wasabi, Rhythm Kitchen, Gino D’Acampo and Five Guys in a contemporary environment. Also the fourth champagne bar for our portfolio opened successfully at intu Lakeside just before Christmas.”
The group’s plans include 1.5 million sq. ft. of extra catering and leisure space, an 80 per cent increase on the current level. 900,000 sq.ft. has already received planning consent and we have applied for a further 360,000 sq. ft.
Examples include the new food court at intu Lakeside, a new dining quarter at intu Eldon Square, a major new destination in the heart of Watford, a street food concept at Midsummer Place and a nine screen cinema at intu Potteries.
