Intu shopping centres contribute £4.8bn to economy

Trafford Centre

Intu Properties plc — which runs 17 shopping centres including Manchester’s Trafford Centre and Arndale Centre, Newcastle’s Eldon Square and Gateshead’s Metrocentre — has issued a new report on the economic benefits of its businesses to local economies.

The research found that retail and leisure destinations owned by intu were worth nearly £5 billion to the UK economy and supported more than 130,000 jobs across the UK last year.

The data, by planning and development consultancy Lichfields, shows that intu’s gross value added (GVA) to the UK economy and the number of people in retail employed at intu centres both grew by more than 4% from 2017.

intu’s GVA increased from £4.6 billion to £4.8 billion and the number of retail jobs involved rose from 96,350 in 2017 to 100,652 in 2018.

Including intu’s employees and people working in areas linked to running its centres, intu said it supported a total of 132,950 jobs last year, making it one of the largest local employers in six of the areas where it operates.

Matthew Roberts, intu chief executive, said: “Retail is a sector that Britain should be really proud of.

“The best shopping destinations employ people in a wide variety of jobs across the length and breadth of the country and are catalysts that create economic and social value.

“intu supports more than 130,000 jobs and contributes billions to the prosperity and wellbeing of communities around the country.

“Flagship centres such as ours play an important role in the lives of communities across the UK, not only in terms of the jobs we create but also the taxes we generate as well as the causes we support to improve the lives and wellbeing of people in our neighbourhoods.”