Hammerson
Encyclopedia
Hammerson plc is a major British property development and investment company. The firm switched to Real Estate Investment Trust
status when REITs were introduced in the United Kingdom in January 2007. It is traded on the London Stock Exchange
and is a constituent of the FTSE 100 Index
. The majority of Hammerson's portfolio is in the United Kingdom, but is also operates in continental Europe, including operations in France, Spain and Germany. It invests mainly in offices and retail premises. It is also listed on Euronext
stock exchange in Paris.
, who began to invest in property in 1942, converting houses into apartments. His company L.W. Hammerson & Co moved into the commercial property sector in 1948 and became a listed company in 1953. It first expanded outside the UK in the 1960s, when it moved into Australia, New Zealand and the United States. In the 1970s it ventured onto the continent and back in the UK it developed the Brent Cross Shopping Centre, which was the first major covered shopping centre in the country. In the 1990s the operations outside Europe were sold and further properties were acquired in Europe. The year 2003 saw the opening of the new Bullring shopping centre in Birmingham
, which was one of the largest city centre retail developments ever built in the UK.
Hammerson, Henderson Group
and Australian State Pension Fund, Future Fund, together form the Birmingham Alliance who are responsible for the Bullring, Martineau Place
and the up-coming Martineau Galleries
development. Hammerson have been chosen to partner up again with Urban Splash
to lead a £1 billion redevelopment of Swansea city centre
.
The company also operates a number of high quality office towers in the City of London, such as 99 Bishopsgate
as well as the redevelopment of 125 Old Broad Street
which was formerly the London Stock Exchange
.
Hammerson's current headquarters are 10 Grosvenor Street, London.
The Company's portfolio was valued at £5.3 billion as at 31 December 2010.
Real estate investment trust
A real estate investment trust or REIT is a tax designation for a corporate entity investing in real estate. The purpose of this designation is to reduce or eliminate corporate tax. In return, REITs are required to distribute 90% of their taxable income into the hands of investors...
status when REITs were introduced in the United Kingdom in January 2007. It is traded on the London Stock Exchange
London Stock Exchange
The London Stock Exchange is a stock exchange located in the City of London within the United Kingdom. , the Exchange had a market capitalisation of US$3.7495 trillion, making it the fourth-largest stock exchange in the world by this measurement...
and is a constituent of the FTSE 100 Index
FTSE 100 Index
The FTSE 100 Index, also called FTSE 100, FTSE, or, informally, the footsie , is a share index of the 100 most highly capitalised UK companies listed on the London Stock Exchange....
. The majority of Hammerson's portfolio is in the United Kingdom, but is also operates in continental Europe, including operations in France, Spain and Germany. It invests mainly in offices and retail premises. It is also listed on Euronext
Euronext
Euronext N.V. is a pan-European stock exchange based in Amsterdam and with subsidiaries in Belgium, France, Netherlands, Portugal and the United Kingdom. In addition to equities and derivatives markets, the Euronext group provides clearing and information services...
stock exchange in Paris.
History
The business was founded by Lewis HammersonLewis Hammerson
Lewis W. Hammerson was the founder of Hammerson plc, one the United Kingdom's largest property businesses and a FTSE 100 company.-Career:Lewis Hammerson initially joined the family garment business, Amagamated Weatherware, in the 1930s...
, who began to invest in property in 1942, converting houses into apartments. His company L.W. Hammerson & Co moved into the commercial property sector in 1948 and became a listed company in 1953. It first expanded outside the UK in the 1960s, when it moved into Australia, New Zealand and the United States. In the 1970s it ventured onto the continent and back in the UK it developed the Brent Cross Shopping Centre, which was the first major covered shopping centre in the country. In the 1990s the operations outside Europe were sold and further properties were acquired in Europe. The year 2003 saw the opening of the new Bullring shopping centre in Birmingham
Birmingham
Birmingham is a city and metropolitan borough in the West Midlands of England. It is the most populous British city outside the capital London, with a population of 1,036,900 , and lies at the heart of the West Midlands conurbation, the second most populous urban area in the United Kingdom with a...
, which was one of the largest city centre retail developments ever built in the UK.
Operations
Hammerson have interests in several major retail developments, including:- Brent CrossBrent CrossBrent Cross is an area of north London, in the London Borough of Barnet. It is located near the A41 Brent Cross Flyover over the A406 North Circular Road. Brent Cross is best known for its shopping centre and the proposed Brent Cross Cricklewood development....
, London, England - Cabot CircusCabot CircusCabot Circus is a shopping centre in Bristol, England. It is adjacent to Broadmead, a shopping district in Bristol city centre. The Cabot Circus development area contains shops, offices, a cinema, hotel and 250 apartments. It covers a total of floor space, of which is retail outlets and leisure...
, Bristol, England - Espace Saint-Quentin, Saint-Quentin-en-YvelinesSaint-Quentin-en-YvelinesSaint-Quentin-en-Yvelines is a new town in the French département of Yvelines. It is one of the original five villes nouvelles of Paris and was named after the Saint Quentin Pond, which was chosen to become the town's centre. The town was built from a greenfield site starting in the 1960s. In...
, France - Highcross, LeicesterLeicesterLeicester is a city and unitary authority in the East Midlands of England, and the county town of Leicestershire. The city lies on the River Soar and at the edge of the National Forest...
, England - Italie 2Italie 2Italie 2 is the name of a large shopping centre in Paris' south east in the 13th arrondissement. It features a Printemps, fnac and over 130 stores, most of which are based overseas. The centre is situated over 3 levels with one level being subterranean , one at ground level and one above ground...
, Paris, France - Les 3 Fontaines, Cergy-PontoiseCergy-PontoiseCergy-Pontoise is a new town in France, in the Val d'Oise département, northwest of Paris on the Oise River. It owes its name to two of the communes that it covers, Cergy and Pontoise....
, France - O'Parinor, Aulnay-sous-BoisAulnay-sous-BoisAulnay-sous-Bois is a commune in the northeastern suburbs of Paris, France. It is located from the centre of Paris.In October and November 2005, it gained national and international attention as one of the focuses of the French suburb riots.-Name:...
, France - The BullringBullring, BirminghamThe Bull Ring is a major commercial area of Birmingham, England. It has been an important feature of Birmingham since the Middle Ages, when its market was first held...
, Birmingham, England - The OracleThe Oracle, ReadingThe Oracle is a large indoor shopping and leisure mall, located on the banks of the River Kennet on the site of a 17th century workhouse of the same name in the town of Reading in the English county of Berkshire...
, ReadingReading, BerkshireReading is a large town and unitary authority area in England. It is located in the Thames Valley at the confluence of the River Thames and River Kennet, and on both the Great Western Main Line railway and the M4 motorway, some west of London....
, England - WestQuay, SouthamptonSouthamptonSouthampton is the largest city in the county of Hampshire on the south coast of England, and is situated south-west of London and north-west of Portsmouth. Southampton is a major port and the closest city to the New Forest...
, England - Union Square Shopping CentreUnion Square Shopping CentreUnion Square is a shopping centre located in the centre of Aberdeen, Scotland, which opened to the public on Thursday, 29 October 2009. The centre contains a covered shopping mall and retail park....
, AberdeenAberdeenAberdeen is Scotland's third most populous city, one of Scotland's 32 local government council areas and the United Kingdom's 25th most populous city, with an official population estimate of ....
, Scotland
Hammerson, Henderson Group
Henderson Group
Henderson Group plc is a global investment management company with its principal place of business in the City of London. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index. It is also listed on the Australian Securities Exchange as a member of the ASX200 index...
and Australian State Pension Fund, Future Fund, together form the Birmingham Alliance who are responsible for the Bullring, Martineau Place
Martineau Place
Martineau Place is a shopping centre located in the city centre of Birmingham, England. It is located on land bounded by High Street, Union Street, Bull Street and Corporation Street and is directly opposite House of Fraser, formerly known as Rackhams....
and the up-coming Martineau Galleries
Martineau Galleries
Martineau Galleries is an important proposed mixed-use development for Birmingham, England as it will connect the Eastside to the city centre core and is also located on the High Street, a major retail area.- Pre-1960s development :...
development. Hammerson have been chosen to partner up again with Urban Splash
Urban Splash
Urban Splash is a British company which regenerates decaying industrial warehouses, mills, Victorian terraced houses and other buildings. These buildings have mainly been converted into housing...
to lead a £1 billion redevelopment of Swansea city centre
Swansea city centre
Swansea city centre in Swansea, Wales, contains the main shopping, leisure and nightlife district in Swansea. The city centre covers much of the Castle ward including the area around Oxford Street, Castle Square, and the Quadrant Shopping Centre; Alexandra Road, High Street, Wind Street and the...
.
The company also operates a number of high quality office towers in the City of London, such as 99 Bishopsgate
99 Bishopsgate
99 Bishopsgate is a skyscraper in the City of London. It is tall and has 25 office floors, with a total net letable floor space of circa . There are a further three plant floors at levels LG, 14 and 27....
as well as the redevelopment of 125 Old Broad Street
Stock Exchange Tower
The Stock Exchange Tower is a high-rise building located in the City of London at 125 Old Broad Street.-History:Standing at tall, with 26 floors, the tower was completed by Trollope & Colls in 1970 and opened by the Queen in 1972. It served as the headquarters and offices for the London Stock...
which was formerly the London Stock Exchange
London Stock Exchange
The London Stock Exchange is a stock exchange located in the City of London within the United Kingdom. , the Exchange had a market capitalisation of US$3.7495 trillion, making it the fourth-largest stock exchange in the world by this measurement...
.
Hammerson's current headquarters are 10 Grosvenor Street, London.
The Company's portfolio was valued at £5.3 billion as at 31 December 2010.
Senior management
| role | salary | bonus | total | |
|---|---|---|---|---|
| David Atkins | Chief Executive Officer | £283,000 | £93,000 | £376,000 |
| Simon Richard Melliss | Group Finance Director | £369,000 | £93,000 | £462,000 |
| Peter W. B. Cole | Managing Director of Group Investment & Development | £369,000 | £87,000 | £456,000 |