Latest news with #Hammerson
BBC News
a day ago
- Business
- BBC News
Plans to demolish Birmingham market submitted for third time
Plans to demolish an historic indoor market have been recommended for approval after being submitted for a third revealed last year they wanted to bulldoze the Birmingham Bull Ring site to make way for proposed development, on Edgbaston Street, would provide up to 745 apartments, or about 1,500 student bedrooms, in the city traders have sold from the site for years, but that could end amid the plans, which go before city council planning committee members on 3 July, with officers suggesting they back the scheme. The market is located on the ground floor of Edgbaston Street Car Park, which is owned by property giant Hammerson. It is run by Birmingham City Council and the local authority provides traders with their have revealed plans for a temporary alternative market site at the location of the city's former wholesale market, to which traders would be plan would then see them relocate into a new permanent building within the wider development site there, for the indoor market were submitted for a second time in February, and were also recommended for approval. The council said it would submit an application for funding to secure the replacement markets, but some members were concerned the new space could not be guaranteed, and a decision was deferred. Ahead of the proposal being considered for a third time next week, an update within council documents said there was now "an increased level of certainty over future market provision".The update revealed that meetings between council leaders, applicant Hammerson and the firm behind the Smithfield development had secured an extension of the lease on the current indoor market until March provided the "necessary time" to deliver a temporary market ahead of the transition to a permanent one, the report council added a business case for funding had been approved by the Enterprise Zone Partnership Board, and would be presented to cabinet prior to a formal bid. The council added it was negotiating with Lendlease over delivering the temporary market and that the plan provided a "credible" way forward and continuity for traders. This news was gathered by the Local Democracy Reporting Service which covers councils and other public service organisations. Follow BBC Birmingham on BBC Sounds, Facebook, X and Instagram.
Fashion Network
19-06-2025
- Business
- Fashion Network
Hammerson completes Oracle "repositioning" works with Zara regional flagship letting
Commercial property giant Hammerson has completed the first 'substantial' phase of a reworking of its Reading, Berkshire, shopping centre The Oracle, with the highlight a transformation of its former anchor department store into three new brand offers, including an all-new Zara. Having already moved TK Maxx in May into a new space, this will be followed by a £4.5 million fit-out for a Hollywood Bowl leisure space opening in July on the Riverside, at a combined total of 120,000 sq ft of space. The third and final letting is for a 'best in class' Zara with a new 40,000 sq ft regional flagship launching in the first half of 2026. This 'significant upsize' of will include the brand's latest concept and digital features, while offering a full range of womenswear, menswear and childrenswear. Hammerson said the relocation of TK Maxx 'represents the trend of retail consolidation across the UK and its opening… led to queues and boosted footfall, with customers drawn to the brand's considerable line-up of home and fashionwear'. It also noted that the Hollywood Bowl entertainment space, 'add[s] more reasons to visit The Oracle, day and night, providing a new and exciting draw to the catchment'. Meanwhile, new Oracle lettings include Jewells and beauty brand Kiko as part of renewing the retail offer and mix. Harry Badham, chief development and Asset Repositioning officer at Hammerson, said: 'We are confident, based on our track record, that the completion of this phase will hugely benefit customers and underpin the future retail evolution of The Oracle, firmly establishing its place as a top UK retail destination with its catchment of three million people. 'We won't stop here and are continuing to invest in the next phases of repositioning, putting The Oracle on the map for customers and brands.'
Fashion Network
19-06-2025
- Business
- Fashion Network
Hammerson completes Oracle "repositioning" works with Zara regional flagship letting
Commercial property giant Hammerson has completed the first 'substantial' phase of a reworking of its Reading, Berkshire, shopping centre The Oracle, with the highlight a transformation of its former anchor department store into three new brand offers, including an all-new Zara. Having already moved TK Maxx in May into a new space, this will be followed by a £4.5 million fit-out for a Hollywood Bowl leisure space opening in July on the Riverside, at a combined total of 120,000 sq ft of space. The third and final letting is for a 'best in class' Zara with a new 40,000 sq ft regional flagship launching in the first half of 2026. This 'significant upsize' of will include the brand's latest concept and digital features, while offering a full range of womenswear, menswear and childrenswear. Hammerson said the relocation of TK Maxx 'represents the trend of retail consolidation across the UK and its opening… led to queues and boosted footfall, with customers drawn to the brand's considerable line-up of home and fashionwear'. It also noted that the Hollywood Bowl entertainment space, 'add[s] more reasons to visit The Oracle, day and night, providing a new and exciting draw to the catchment'. Meanwhile, new Oracle lettings include Jewells and beauty brand Kiko as part of renewing the retail offer and mix. Harry Badham, chief development and Asset Repositioning officer at Hammerson, said: 'We are confident, based on our track record, that the completion of this phase will hugely benefit customers and underpin the future retail evolution of The Oracle, firmly establishing its place as a top UK retail destination with its catchment of three million people. 'We won't stop here and are continuing to invest in the next phases of repositioning, putting The Oracle on the map for customers and brands.'
Daily Mail
04-06-2025
- Business
- Daily Mail
Boss of shopping centre owner Hammerson to step down after five years
The boss of Brent Cross and Bull Ring shopping centre owner Hammerson is leaving after five years. In a surprise update, the company said Rita-Rose Gagne will leave in 2026. Chairman Robert Noel praised her 'outstanding leadership and immense contribution', saying she drove a substantial turnaround. Gagne, 62, previously a senior partner at global law firm Fasken, said: 'I have been privileged to work with our talented teams to transform our culture, balance sheet and portfolio.' She added that now was the right time to 'pass on the baton' and retire from the firm. Hammerson's underlying earnings fell 15 per cent to £99million last year after it offloaded assets, including its stake in Value Retail, owner of Bicester Village near Oxford. It booked a £497million impairment in the first half of 2024 due to the sale, despite banking £595million from the deal.
Fashion United
04-06-2025
- Business
- Fashion United
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 successor is identified'. The company adds that the timeframe will also allow for a 'full handover and orderly transfer of her responsibilities' and facilitate a smooth transition so that Hammerson's growth strategy and operations continue 'at pace and without disruption'. Commenting on her retirement plan, Gagné said: "In 2026, I will have been with Hammerson for an incredible five years, during which time I have been privileged to work with our talented teams to transform our culture, balance sheet and portfolio, returning the business to growth. 'We are successfully executing a clear growth strategy and have tremendous momentum for sustainable long-term value creation. With the business in great shape, a strong team, and significant opportunities ahead, it is an exciting time for Hammerson and the right time for me to pass on the baton." Robert Noel, chair of Hammerson, added: "On behalf of the board and the Hammerson team, I would like to thank Rita-Rose for her outstanding leadership and immense contribution to the business since November 2020. 'During this time, she has driven a substantial turnaround, transforming and strengthening Hammerson into the largest UK-listed, pure-play owner and manager of prime retail and leisure-anchored city destinations. The company is now well positioned to continue to deliver growth and value creation." Hammerson's portfolio includes the Bullring and Grand Central in Birmingham, Cabot Circus in Bristol, Brent Cross in London, and Westquay in Southhampton.
