Penneys, the Irish arm of the giant Primark retail chain, is to spend €14.8 million on moving and enhancing its Dublin flagship destination. The new Dundrum Town Centre store will give "an enhanced shopping experience”.
Hammerson is continuing to enjoy the surge in new retail store openings. The property owner and manager of Victoria Leeds has welcomed another arrival for its flagship destination, creative eyewear specialist Cubitts.
British mall operator Hammerson on Thursday projected higher annual earnings as more people visited its malls in since lockdown restrictions were eased and performance at its luxury outlets was better than expected.
Life’s going to get tougher for Hammerson retail tenants still in rent arrears. While the property giant said it has seen a “significant” improvement in collection rates, it now remains “focused on collecting arrears”.
Positive news from retail landlord Landsec continues on the rent collection front. The commercial property giant said Friday that, as of 12 October, 85% of the £89 million net rent due on 29 September had been paid.
Hammerson’s UK and Ireland managing director Mark Bourgeois is preparing to leave as the heavily-indebted commercial property giant plans to cut up to 40 head office jobs in order to reduce costs, a report claims.
The revitalisation of Croydon in Southeast London is nowhere near to completion as the pandemic has seen the major parties involved (URW and Hammerson) abandoning big plans to redevelop the Centrale & Whitgift Centre.
British mall operator Hammerson on Thursday reported a 14% rise in half-year profit thanks to a retail recovery following the easing of lockdowns and lower costs, but footfall is yet to rebound to pre-pandemic levels.