Hammerson news and archive

Hammerson CEO to retire in 2026

Hammerson, owner, operator and developer of prime urban real estate across the UK, Ireland and France, has confirmed that chief executive officer Rita-Rose Gagné will be retiring and stepping down from her role in 2026. In a statement, Hammerson said that Gagné will remain with the business for the next 12 months to ensure “continuity while a...

Retail

Aston Villa and Adidas partner for new store in Birmingham

Aston Villa Football Club has opened a new flagship store at Birmingham’s Bullring shopping centre in partnership with Adidas. The 10,000-square-foot space features official kits, training gear, and exclusive merchandise, with personalisation services for fans. A museum-inspired area within the store celebrates the club’s 150-year history and...

Retail

Jewells to make UK retail debut with four new stores

Jewells is launching in the physical retail space with the opening of four new stores across the UK. The British jewellery brand has partnered with landlord Hammerson, which has signed the stores at four of its retail sites. The first locations will open May 30 at Westquay in Southampton and The Oracle in Reading. These will be followed by...

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Hammerson increase stake in Brent Cross

Hammerson, the largest UK-listed, pure-play owner and manager of prime retail and leisure anchored city destinations across the UK, France and Ireland, has increased its stake in London shopping centre Brent Cross. In a statement, Hammerson confirmed it is acquiring the units in the Abrdn UK Shopping Centre Trust (SCUT), which holds 59 percent...

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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...

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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...

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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...

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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...

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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...

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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...

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Retail

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 less than half of rent owed

British property giant Hammerson has collected less than half of net rental income due in the second quarter of the year. At group level, 40 percent of rent due has been received to date, with the UK collecting 48 percent, France 23 percent, and Ireland 34 percent. An aggregate 46 percent of H1 2021 rent due has been collected. The company said...