intu properties plc announced that its has acquired the Charter Place precinct adjacent to intu Watford and are preparing a planning application for submission later 2013 for its redevelopment and integration to create a 1.4 million sq ft destination. The proposed cinema, restaurants, food store and large format retail units will significantly enhance Watford's overall retail, entertainment and leisure offer and will help in attracting additional major brands to the town. The company plans to invest around £100 million from 2014 in the combined centre have already attracted significant retailer interest in both the new space and the existing centre, including a new 32,000 sq ft flagship store for next to open by Christmas 2013. The company's expansion into adjacent units to create a 40,000 sq ft flagship store is on plan, with the first phase successfully opening in March. The £6 million investment by Sealife in an aquarium attraction at Barton Square is on target for opening in June 2013.

intu properties plc announced interim management statement for the period from January 1, 2013 To May 8, 2013. The company reported that the UK retail environment remains difficult with retailers continuing to be cautious in entering into store commitments. Company’s centres continue to out-perform national benchmarks and attract new brands and flagship stores. Footfall in centres during the period has been 1% lower year to date than 2012. This represents a significant out-performance of Experian’s measure of UK national retail footfall which declined 4% reflecting the weak economic background. Occupancy across centres remains high at 95%, down 1% from 31 December 2012 due to expiry of seasonal lettings (31 March 2012 – 95%). In aggregate units amounting to 3% of rent are currently being traded by administrators and are treated as occupied within the 95%. Following the acquisition, the equity placing and the refinancing, net external debt was unchanged at £3.5 billion at 31 March 2013 and the debt to assets ratio (based on 31 December valuations) was 48%. On a pro forma basis, were the 2.5% convertible bonds 2018 to convert into equity, the net debt to assets ratio would reduce to 44%.

intu properties plc, 4 Months 2013 Interim Management Statement Call, May 08, 2013