Bullring owner set to offload UK retail venues after ‘tough’ 2018

Published: 26-Feb-2019
Finance

Hammerson is to dispose of £900m of its property portfolio including retail parks in the UK

You need to be a subscriber to read this article.
Click here to find out more.

Property management firm Hammerson, which owns the Bullring in Birmingham and London’s Brent Cross shopping centres, is set to offload over £900m of its property portfolio following ‘tough’ 2018 results.

A wave of retail administrations and CVAs, subdued consumer spending and the structural shift in the retail sector has affected the firm’s results, which saw it sell off £570m of property at an average disposal price of 7%, below December 2017’s book value.

It also saw a 6.2% drop in net rental income, around £3m, to reach £347.5m in 2018.

Not yet a Subscriber?

This is a small extract of the full article which is available ONLY to premium content subscribers. Click below to get premium content on Cosmetics Business.

Subscribe now Already a subscriber? Sign in here.
  • Companies:
  • Frasers Group
See more

You may also like

Finance

Mike Ashley will step down as Frasers CEO next year

Read more
While not set in stone, if Ashley concedes, his future son-in-law Michael Murray will take the helm of the Sports Direct owner

Trending Articles

  1. Former investor accuses Revolution Beauty of ‘deceit’ and seeks £45.2 million claim Chrysalis Investments is taking legal action against the fast beauty retailer, accusing it of ‘negligent misstatement and/or misrepresentation’
  2. PZ Cussons to sell St. Tropez in bid to return to growth The owner of Charles Worthington and Sanctuary Spa has struggled with declining sales with its Africa business hit by devaluation of the Nigerian naira
  3. THG revenue growth boosted by beauty's 'standout performance' The increased revenues reported in Q1 builds on THG’s return to growth in the final quarter of 2023
  4. Nivea helps push Beiersdorf sales to €4.9 billion in H1 Sun protection was pinpointed as a strong performance segment for the German giant's Nivea, Eucerin and Aquaphor brands
  5. The Body Shop administrators investigate claim of missing millions FRP Advisory is allegedly exploring the claim that millions of pounds were taken out of the company before it fell into administration

Upcoming event

China Beauty Expo

22-24 May | Shanghai, China See all

You may also like

Finance

Mike Ashley will step down as Frasers CEO next year

While not set in stone, if Ashley concedes, his future son-in-law Michael Murray will take the helm of the Sports Direct owner
Finance

Frasers Group warns more stores at risk of closure and slams business rates review delay

The retail firm of billionaire Mike Ashley has said more House of Fraser chains could shutter as the company struggles to bounce back from the coronavirus lockdown
Finance

More House of Fraser stores set to close, says Mike Ashley

The retail tycoon, whose company, Sports Direct, bought the retailer last year, said ‘terminal’ issues were still evident in the business
Finance

'Terminal' House of Fraser granted 12 month administration extension

The British department store was bought out by Sports Direct tycoon Mike Ashley last year
You need to be a subscriber to read this article.
Click here to find out more.
Finance

More misery for ‘terminal’ House of Fraser as stores set to close

Mike Ashley says he regrets rescue buy out of the retailer
You need to be a subscriber to read this article.
Click here to find out more.
Finance

House of Fraser says luxury brand relationships 'critical' to future

The company, recently rescued by Sports Direct, is said to owe brands such as Elizabeth Arden around £484m
Finance

House of Fraser in new talks with investors as rescue deal collapses

The British department store retailer will no longer be taken over by Chinese firm C.banner
Subscribe now