The actions of the owner of the Intu shopping center disappear after the takeover

Shares of shopping center owners, including Lakeside and Trafford, fell after the abandonment of a £ 2.8 billion takeover bid.

The market-seeking consortium for Intu blamed "uncertainty over current macroeconomic conditions and potential short-term volatility in the markets" from being remote.

It was run by the Peel Group and included the Saudi company Olayan and the Canadian Brookfield property.

Intu shares fell 35% to 125 pence.

This is the second time this year that the Intu is fired. In April, Hammerson dropped a bid of £ 3.4bn.

John Whittaker, chairman of Peel Group, said: "We remain fully committed to Intu Properties as a long-term strategic shareholder, as evidenced by our participation in the eventual bid of the consortium."

Peel holds a 27.3% interest in Intu.

Intu said it would continue to invest in its shopping centers, but would pay lower dividends to short-term investors.

The company said it expects net rental income growth of 0 to 1% over the entire year, baduming that there would be "more than material failure of tenants ", which would have resulted in growth of about 1.5% over one year.

Mr Whittaker said that there was a "key role" for physical stores despite a recent wave of closure of some of the most well-known names in the retail trade.

Earlier this month, Mike Ashley, whose Sports Direct recently took control of House of Fraser, announced that he would close four of the department store chain stores located in Intu shopping malls after failing to negotiate a reduction in the rent of the stores.

Other troubled stores include Debenhams (Mike Ashley's other investment), New Look and the Prezzo and Jamie & # 39; s Italian food chains.

A recent report by PwC revealed that 14 stores were closing every day, while the UK's main streets were facing the toughest business climate in five years.

Data from retail badysts, Springboard, indicated that shoppers continue to prefer online shopping rather than shopping. Black Friday data from last week showed that the biggest losers were the malls.

The number of visitors to the stores decreased by 7% from the previous year, the shopping streets by 6.4% and the number of visitors to the shopping centers decreased by 9.1%.

Intu Shopping Centers in the United Kingdom

• Braehead, Glasgow
• Broadmarsh, Nottingham
• Chapelfield, Norwich
• Intu Derby
• Eldon Square, Newcastle
• Lakeside Esbad
• Merry Hill, Midlands of the West
• Metrocentre, Gateshead
• Intu Milton Keynes
• Pottery, Stoke-on-Trent
• Trafford Center, Manchester
• Intu Uxbridge
• Victoria Center, Nottingham
• Intu Watford
• Manchester Arndale (with M & G Real Estate)
• St David's, Cardiff (with Land Securities)
• The Mall, Cribbs Causeway (with M & G Real Estate and JT Baylis)