Hammerson pins hopes on ‘£800m’ raise to survive crisis August 3, 2020 Retail landlord Hammerson is considering tapping investors for up to £600m in a bid to shore up its finances during the coronavirus crisis. Hammerson, which owns Birmingham’s Bullring shopping centre and Brent Cross in north London, also confirmed that it is in advanced talks to sell its 50 per cent stake in Via Outlets to [...]
Hammerson boss David Atkins to step down after a decade May 27, 2020 Hammerson chief executive David Atkins will step down after 10 years at the helm, the retail landlord said today. The property giant, which owns Birmingham’s Bullring, said Atkins will remain in position until spring 2021 while it searches for his successor. Atkins, who took the reins in 2009, said it had been a “privilege” to [...]
Hammerson’s £400m retail parks sale collapses as private equity firm backs out amid coronavirus May 6, 2020 Retail landlord Hammerson announced this morning that private equity firm Orion has pulled out of a deal to buy seven shopping parks for £400m. Hammerson said it had access to a £21m deposit that had been held in escrow by its solicitors after Orion European Real Estate Fund V held firm in its decision not [...]
Coronavirus: Retail landlord Hammerson suffers drop in rent payments March 30, 2020 Retail landlord Hammerson received 37 per cent of the rent it was owed in the second quarter as its tenants suffered a drop in sales and forced closures due to the coronavirus pandemic. The shopping centre owner this morning said adjusted for rent deferred, switched to monthly payment and waived, it had received 57 per [...]
Hammerson’s losses widen as retail CVAs dent rents February 25, 2020 Retail landlord Hammerson today warned it will cut its 2020 dividend almost in half as losses mounted in 2019 after another tough year for retailers in which many renegotiated their rents. The figures The real estate giant sank to a £573.8m loss for its latest financial year, up from a £173.3m loss in 2018. While [...]
Hammerson sells seven retail parks to Orion for £400m February 21, 2020 Hammerson has sold seven retail parks to Orion’s European real estate fund for £400m, the largest sale of its kind in the UK for a decade. The parks are dotted around the country in places such as Didcot, Falkirk, Rugby and Telford. The deal, which is expected to raise proceeds of £395m, takes the total [...]
Hammerson continues retail property disposal with £54m sale November 19, 2019 Hammerson has continued its property disposal programme with the £54m sale of a Gloucester retail park to a local authority. Following the sale of St Oswald’s Retail Park, Hammerson has reached £577m worth of disposals in 2019, including the sale of a major stake in its Italie Deux flagship destination in Paris for £423m in [...]
Hammerson makes £423m sale but retail troubles take a chunk out of income July 29, 2019 Hammerson this morning announced it has sold a 75 per cent stake in Parisian shopping centre Italie Deux for £423m. The retail property giant said the deal with Axa Investment Managers brought it to more than 90 per cent of its annual £500m disposal target. Hammerson also released its half-year results this morning. It reported [...]
Vodafone dividend cut: which UK shares might be next? May 28, 2019 | City Talk By Tom Bailey from interactive investor. Vodafone's cut might be a canary in the coalmine for FTSE 100 shares. Over the past year the market has increasingly cooled on Vodafone (LSE:VOD). The company has a long list of problems, including the high cost of 5G investment, being squeezed by competition on the continent and high [...]
Landsec: A tale of two portfolios May 14, 2019 Investors trying to work out what the future holds for property giant LandSec, which delivered a dismal set of results to the City this morning, could do worse than take a stroll through its Square Mile development. The complex, aptly named One New Change, is a fitting example of how the FTSE 100 real estate [...]