Get the app today! Download iPhone App Download Android App

SUBSCRIBE

Shopping Centre Owner Hammerson Planning To Convert Some Of Those Assets For Use As Hotels

Published on Aug 10 2021 11:04 AM in Hotel tagged: Trending Posts / Hammerson

Shopping Centre Owner Hammerson Planning To Convert Some Of Those Assets For Use As Hotels

Shopping centre owner Hammerson is planning to convert some of those assets for use hotels as well as for housing, hotels and workspaces. Hammerson, which operates in seven different countries, co-...

Shopping centre owner Hammerson is planning to convert some of those assets for use hotels as well as for housing, hotels and workspaces.

Hammerson, which operates in seven different countries, co-owns the Dundrum Town Centre, Swords Pavilions and Ilac shopping centre in Dublin city as well as the Kildare Village designer outlet facility.

Hammerson Statements

As reported by The Irish Independent, Hammerson said in its half-year report that it has "some of the best assets in prime urban cities", but the profitability of the properties has been adversely impacted by the COVID-19 pandemic.

Hammerson reportedly said, "In the medium- to long-term, there are more capital-intensive opportunities to repurpose part of our assets for alternative uses such as residential, hotel or workspace."

Hammerson Chief Executive Statements

Hammerson chief executive Rita-Rose Gagne reportedly said on an analyst call that the company will "maintain a retail amenity core, but evolve the mix", and reportedly added, "We have development opportunities, both on the existing sites and in the adjacent land bank we own. The most appealing and scalable is residential, but other sectors will be appropriate for specific assets."

Dublin Plans

Hammerson is reportedly planning to build residential units in Dublin city centre and the Dublin suburb of Dundrum.

© 2021 Hospitality Ireland – your source for the latest industry news. Article by Dave Simpson. Click subscribe to sign up for the Hospitality Ireland print edition.

Share on Facebook Share on Twitter Share on LinkedIn Share via Email