Shopping centre owner and operator Intu has outlined plans to raise capital by selling sections of its biggest centres to investors to continue its push towards mixed-use developments.

More than half of the company’s £1.2bn development pipeline is expected to be spent on adding food and leisure outlets to its portfolio, as it moves to capitalise on the growing popularity of destination shopping or ‘retailtainment.’

Among the company’s ongoing food and leisure projects are the £80m Lakeside development in Essex and large-scale mixed-use plans to refurbish its Watford centre.

A company-issued management report noted that Intu was beginning to see areas of strong interest from retailers, particularly in centres where it has been or has plans for investing.

Intu chief executive David Fischel has outlined his belief that customers increasingly want more than just shopping, with a greater demand for additional spending opportunities through leisure and food offerings.

“The strong momentum of our development projects continues, with signs of increased retailer interest as the UK retail environment continues to improve,” said Fischel.