British Land, which jointly owns Meadowhall shopping centre, has warned of the “adverse impact” of Brexit as it announced annual profits rose 16 per cent to £363m.
CEO Chris Grigg said: “We remain confident in the underlying strength of the business despite continued global macro uncertainty and the potentially adverse impact of a vote for the UK to leave the European Union.”
The group said that Meadowhall had a strong year. Sales at the centre were 2.2 per cent ahead, with retailers on the refurbished premium mall significantly outperforming.
“We are on site with a £60m internal refurbishment, ahead of which we have already signed some high quality new brands including Diesel, Joules, Kiko Milano, Jack Wills and Tapas Revolution,” said Mr Grigg.
The firm is in public consultation for a 330,000 sq ft leisure scheme which is said will cement Meadowhall’s position as among the best retail and leisure destinations in the UK.
British Land commissioned a review by PwC, which identified Meadowhall’s social and economic contribution to the Sheffield City Region and the wider UK for the first time, with 1p in every £1 and one job in every 100 in the region linking back to Meadowhall.