Hammerson news and archive

LVMH-owned L Catterton snaps up Value Retail stake for 1.5 billion pounds

A newly formed company under the banner of private equity firm L Catterton has snapped up a stake in Value Retail, the owner of UK retail destinations like Bicester Village, which had formerly been held by British property firm Hammerson. The deal, which will see Value Retail transferred to Silver Bidco Limited, a Jersey incorporated firm...

Business

Hammerson sees an encouraging first quarter amid development projects

British property investment and management group Hammerson presented its results for the first half of 2023. The group showed financial progress and adjusted profits up 15 percent year-on-year to 56 million pounds, or 65 million euros. According to the Group, this increase is partly the result of higher rental income and lower operating and...

Business

Hammerson posts increase in Q1 sales, footfall

British property giant Hammerson has reported an increase in sales and footfall in the first quarter of the year as it continued to recover from the pandemic. Footfall in the UK and France were up 6 percent year-on-year, while footfall in Ireland jumped 13 percent. Sales, meanwhile, were up 6 percent in the UK, 11 percent in France, and 7...

Business

Hammerson narrows FY losses despite drop in revenue

Hammerson has reported narrowing losses in its most recent full-year results despite a drop in revenue. The British property giant made a pre-tax loss of 164.2 million pounds in 2022, down from a loss of 429.1 million pounds a year earlier. The London-based company said the narrowing loss was largely attributed to a 282 million pound revaluation...

Business

Hammerson Q3 sales above pre-Covid levels as shoppers return to stores

British property giant Hammerson has reported third-quarter sales above 2019 levels as shoppers flocked back to physical stores following the end of lockdown restrictions. Compared to pre-Covd levels in 2019, sales were up 4 percent in the UK, up 3 percent in France, and up 2 percent in Ireland. The company, which owns Bullring shopping centre...

Business

Hammerson reportedly prepares to axe jobs

British property and investment company Hammerson could reportedly axe hundreds of jobs to cut costs. All 250 employees working at its head office in London’s King’s Cross and at its office in Reading have been placed in a consultation exercise, The Times reports. Up to 40 roles across a number of other functions are also understood to be at...

RetailFeatured

Hammerson to sell entire portfolio of UK retail parks

British property giant Hammerson is selling all seven of its retail parks to Canadian investment firm Brookfield in a move that concludes its exit from the UK retail parks sector. The deal is worth 330 million pounds, eight percent lower than the December 31 2020 book value of 357 million pounds. As previously announced, Hammerson has also...

Retail

Hammerson collects just 41 percent of rent from retailers

British shopping centre operator Hammerson has collected just 41 percent of rent due for Q1 as retailers continue to struggle to make payments. Breaking it down by country, 41 percent of rent due has been paid in the UK - 36 percent at flagships and 64 percent at retail parks - while France and Ireland have paid 46 percent and 31 percent,...

People

Hammerson appoints first-ever COO

British shopping centre operator Hammerson has appointed Grégoire Peureux as its first-ever chief operating officer (COO). Peureux will join the group executive committee and will concentrate on the performance of strategic initiatives at a group level. With more than 17 years of real estate industry experience, Peureux joins this role from Rove...

Business

Hammerson collects 41 percent of Q4 rent, provides VIA Outlets update

British shopping centre operator Hammerson has said it has collected 41 percent of Q4 group rent so far but remained optimistic about improving levels. Breaking it up by country, the firm collected 38 percent of UK rents, 33 percent in Ireland, and 51 percent in France. It noted that these levels are higher than that at the same point following...

Business

Rita-Rose Gagné to join Hammerson as its CEO

Hammerson plc has announced the appointment of Rita-Rose Gagné as Chief Executive Officer (CEO) and Executive Director. The company said in a statement that it is anticipated that she will take up her new role with Hammerson before the end of the year and David Atkins will continue to serve as CEO until Gagné joins the company. Commenting on...

Business

Hammerson in talks to sell 50 percent stake in VIA Outlets

British property giant Hammerson has confirmed that it is in advanced talks of a possible disposal of its 50 percent stake in VIA Outlets to its joint venture partner APG. The company, which owns Bullring shopping centre in Birmingham and Brent Cross centre in London, said it is also mulling a potential equity raise by way of a rights issue. “...