Intu boss promises to stand firm on Primark rent reductions

barton square courtyard view

The chief executive of Intu has said that the landlord will stand firm should Primark or any other retailer request rent reductions on schemes in line with those who have recently undergone CVAs.

The new chief executive of the embattled landlord, Matthew Roberts ruled out bowing to pressure from tenants such as Primark that might be looking to request rent reductions in line with other retailers on Intu sites which have recently successfully restructured through CVAs.

Roberts said Intu is “not in the business of discounting our space” and claimed the only time the landlord would have these discussions was at the beginning of a new lease or the end of an old one.

“The time we hold discussions is when we are looking to get a new lease signed. Or when one lease ends and they want to start a new lease. We are not in the business of discounting our space. We are not about to do a wholesale rebasing lowering of our rents.”

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