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