Hammerson: Handsome half-year figures and takeover talk

As previously suggested by Inside Croydon, Hammerson, the owner of Centrale and potential developers of the Whitgift Centre, is a takeover target for other developers – including their Whitgift rivals, Westfield.

The takeover talk emerged from Australia in May, according to this video clip report from Property Week, posted this week when Hammerson published some relatively healthy half-year figures.

Hammerson is undertaking a £50 million redevelopment of Centrale, which it bought last year for around £100 million.

As the Property Week analysts suggest, ironically, because the company has been performing well and is cash rich, having just sold £500 million-worth of offices to help fund its retail ambitions, it has made itself even more of a target for larger, acquisitive rivals, such as Westfield or Land Securities.

Stay with the video clip to the end, because it also includes Lawrence Hutchings, Hammerson’s head of retail, talking about the impact of online shopping, something which could profoundly affect Croydon’s town centre if its entire future is based on shops and flats, as the council’s CEO Jon Rouse has his way.

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About insidecroydon

News, views and analysis about the people of Croydon, their lives and political times in the diverse and most-populated borough in London. Based in Croydon and edited by Steven Downes. To contact us, please email inside.croydon@btinternet.com
This entry was posted in Allders, Business, Centrale, Croydon Council, Jon Rouse, Planning, Property, Whitgift Centre and tagged , , , , , , . Bookmark the permalink.

One Response to Hammerson: Handsome half-year figures and takeover talk

  1. We went to Cosmo for dinner last night. We asked ourselves a question: if a new Croydon central hub went ahead, would the Purley Way business area survive?

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