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Shopping mall giant intu has revealed more than 70 percent of units in the new-look Broadmarsh centre have now been taken or are the subject of advanced negotiations.

Work began on the long-awaited project - part of the wider £250 million Broadmarsh regeneration scheme - at the start of the year with the aim of making it a retail and leisure destination.

Intu bosses have previously confirmed Hollywood Bowl and the Light Cinema have agreed to open at the venue, with restaurants and high street retailers also set to follow suit.

The company has remained tight-lipped on the groups which have agreed to move in, but in a trading update to shareholders, a spokesman said: "Since starting the project, we have increased the number of units exchanged or in advanced negotiations from 45 percent to over 70 percent."

Work has significantly increased in recent months with the closing of the Drury Walk entrance to the centre allowing for work to take place on the first floor of the building.

Speaking previously to Nottinghamshire Live, Chris Deas, director of major projects at the council, said there would soon be a flurry of activity around the area as construction work got under way.

This would include construction on a new car park, bus station and new central library, in addition to the £89 million shopping centre, which will be glass-fronted and is scheduled for completion in 2021.

He said: "In all major projects, there’s a period where it looks like nothing is happening, but actually there’s a lot of paddling beneath the water.

“I think the public have been waiting for redevelopment in the Broadmarsh area for a generation, and quite rightly.

“I was brought up in Nottingham, and I’ve watched the decay of that part of the city. We’ve had various potential times when people like Westfield and others have come forward, and there have been false dawns.

"But now I know it’s happening, and I think very soon everybody will know it’s happening because they’ll see it."

The trading update did include a warning that intu was anticipating a drop in rental income, saying Brexit uncertainty had affected letting demand and it was also expecting a rise in company voluntary arrangements, where insolvent companies can continue trading to pay creditors.

The difficulties being endured by department store, Debenhams, which makes up three percent of intu's tenants, will also have an impact.

Matthew Roberts, intu chief executive, said: "We expect the remainder of 2019 to be challenging due to a higher than expected level of CVAs and a slowdown in new lettings as tenants delay their decisions due the uncertainties in the current political and retail environments.

"As such, we have revised our approach to how we guide towards our year-end like-for-like net rental income to factor in expected CVAs and have adjusted our 2019 guidance accordingly to minus four to six per cent.

"Despite the current operating environment, I believe we have a very good business and am confident we can meet the challenges we are facing head on. I look forward to updating the market on strategy alongside our interim results in July."

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