Hammerson
 |
|
| Type | Real estate investment trust |
|---|---|
| Industry | Property |
| Founded | 1942 |
| Headquarters | London, England, UK |
| Key people | John Nelson (Chairman) David Atkins (Chief Executive) |
| Products | Investment, Property management |
| Revenue | £332.0 million (2010)[1] |
| Operating income | £720.2 million (2010)[1] |
| Net income | £619.5 million (2010)[1] |
| Employees | 277 (2008) |
| Website | www.hammerson.com |
Hammerson plc (LSE: HMSO) 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.
Contents |
[edit] History
The business was founded by Lewis Hammerson, who began to invest in property in 1942, converting houses into apartments.[2] His company L.W. Hammerson & Co moved into the commercial property sector in 1948 and became a listed company in 1953.[2] 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.[3] 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.[4]
[edit] Operations
Hammerson have interests in several major retail developments, including:[5]
- Brent Cross, London, England
- Cabot Circus, Bristol, England
- Espace Saint-Quentin, Saint-Quentin-en-Yvelines, France
- Highcross, Leicester, England
- Italie 2, Paris, France
- Les 3 Fontaines, Cergy-Pontoise, France
- O'Parinor, Aulnay-sous-Bois, France
- The Bullring, Birmingham, England
- The Oracle, Reading, England
- WestQuay, Southampton, England
- Union Square Shopping Centre, Aberdeen, Scotland
Hammerson, Henderson Group and Australian State Pension Fund, Future Fund, together form the Birmingham Alliance who are responsible for the Bullring,[4] 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.[6]
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.[1]
[edit] Senior management
| role | salary | bonus | total | |
|---|---|---|---|---|
| David Atkins[7] | Chief Executive Officer | £283,000 | £93,000 | £376,000 |
| Simon Richard Melliss[8] | Group Finance Director | £369,000 | £93,000 | £462,000 |
| Peter W. B. Cole[9] | Managing Director of Group Investment & Development | £369,000 | £87,000 | £456,000 |
[edit] References
- ^ a b c d "Preliminary Results 2010". http://phx.corporate-ir.net/External.File?item=UGFyZW50SUQ9ODI1NzF8Q2hpbGRJRD0tMXxUeXBlPTM=&t=1. Retrieved 18 April 2011.
- ^ a b "Hammerson History". Hammerson.com. http://www.hammerson.com/phoenix.zhtml?c=133289&p=history. Retrieved 18 April 2011.
- ^ "Standard Life Investments Property". Property.standardlifeinvestments.com. http://property.standardlifeinvestments.com/content/en/retail/brent_cross/brent_cross_index.html. Retrieved 18 April 2011.
- ^ a b "Building the Bullring Birmingham". Findarticles.com. http://findarticles.com/p/articles/mi_qa5379/is_200201/ai_n21308698. Retrieved 18 April 2011.
- ^ "Top 10 Properties". Hammerson. http://www.hammerson.co.uk/phoenix.zhtml?c=133289&p=prop-top10. Retrieved 4 August 2009.
- ^ Waite, Richard (14 January 2008). "Urban Splash and Hammerson to regenerate Swansea". Architectsjournal.co.uk. http://www.architectsjournal.co.uk/news/dailynews/2008/01/urban_splash_and_hammerson__swansea.html. Retrieved 18 April 2011.
- ^ "David Atkins: Executive Profile & Biography". BusinessWeek. McGraw-Hill. http://investing.businessweek.com/research/stocks/people/person.asp?personId=22613701&ric=HMSO.L. Retrieved 17 September 2009.
- ^ "Simon Richard Melliss: Executive Profile & Biography". BusinessWeek. McGraw-Hill. http://investing.businessweek.com/research/stocks/people/person.asp?personId=8674450&ric=HMSO.L. Retrieved 17 September 2009.
- ^ "Peter W. B. Cole: Executive Profile & Biography". BusinessWeek. McGraw-Hill. http://investing.businessweek.com/research/stocks/people/person.asp?personId=8674459&ric=HMSO.L. Retrieved 17 September 2009.
