Derby leads the way for intu in East Midlands
intu’s Derby mall contributed most to the East Midlands economy in 2017, according to new figures from the shopping centre operator.
The Derby venue brought it £233.4m to the economy last year, with the Victoria Centre in Nottingham contributing £206.9m and its city counterpart lagging behind with £113.1m as large parts of its was closed or vacated ahead of a large-scale redevelopment.
The latest iteration of intu’s ‘Contributing’ report, produced independently by planning and development consultancy Lichfields and assured by business management and corporate responsibility consultant Corporate Citizenship, measured the economic impact of 14 of the country’s biggest and most popular shopping centres to understand the value physical retail destinations bring to their local areas and communities. It found intu’s gross value added (GVA) to the UK economy was £4.6bn in 2017 and that intu centres and tenants provided approximately 130,000 jobs nationally, accounting for over three per cent of the country’s entire retail employment. In the past five years alone, intu centres and tenants have generated 19,000 new jobs.
David Fischel, intu chief executive, said: “As the owners and managers of some of the best shopping centres in the UK and Spain, we play an important role in the lives of the communities across the UK. By creating compelling experiences that keep our customers coming back we can continually improve our centres, offer good-quality, long-term jobs and support local communities.”