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| Type | Real estate investment trust |
|---|---|
| Founded | 1942 |
| Headquarters | London, England, UK |
| Key people | John F. Nelson (Chairman), R. John Richards (Chief Executive), Nicholas Hardie (UK Finance Director) |
| Industry | Property |
| Products | Investment, Property management |
| Revenue | £344.2 million (2008) |
| Operating income | £(1,440.8) million (2008) |
| Net income | £(1,573.8) million (2008) |
| 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.
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History
The business was founded by Lewis Hammerson, who began to invest in property in 1942, converting houses into apartments.[1] His company L.W. Hammerson & Co moved into the commercial property sector in 1948 and became a listed company in 1953.[1] 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.[2] 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.[3]
Operations
Hammerson have interests in several major retail developments, including:[4]
- 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 Land Securities together form the Birmingham Alliance who are responsible for the Bullring[3], 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.[5]
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 £6.5 billion as at 31 December 2008.[6]
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 |
| R. John G. Richards[10] | Executive Director | £511,000 | £133,000 | £644,000 |
References
- ^ a b Hammerson History
- ^ Standard Life Investments Property
- ^ a b Building the Bullring Birmingham
- ^ "Top 10 Properties". Hammerson. http://www.hammerson.co.uk/phoenix.zhtml?c=133289&p=prop-top10. Retrieved 2009-08-04.
- ^ Urban Splash and Hammerson to regenerate Swansea
- ^ Annual Report 2008
- ^ "David Atkins: Executive Profile & Biography". BusinessWeek. McGraw-Hill. http://investing.businessweek.com/research/stocks/people/person.asp?personId=22613701&ric=HMSO.L. Retrieved 2009-09-17.
- ^ "Simon Richard Melliss: Executive Profile & Biography". BusinessWeek. McGraw-Hill. http://investing.businessweek.com/research/stocks/people/person.asp?personId=8674450&ric=HMSO.L. Retrieved 2009-09-17.
- ^ "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 2009-09-17.
- ^ "R. John G. Richards: Executive Profile & Biography". BusinessWeek. McGraw-Hill. http://investing.businessweek.com/research/stocks/people/person.asp?personId=8751569&ric=HMSO.L. Retrieved 2009-09-17.
External links
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