Latest news with #Hammerson
Fashion Network
a day ago
- Business
- Fashion Network
Hammerson completes Oracle "repositioning" works with Zara regional flagship letting
Commercial property giant Hammerson has completed the first 'substantial' phase of a reworking of its Reading, Berkshire, shopping centre The Oracle, with the highlight a transformation of its former anchor department store into three new brand offers, including an all-new Zara. Having already moved TK Maxx in May into a new space, this will be followed by a £4.5 million fit-out for a Hollywood Bowl leisure space opening in July on the Riverside, at a combined total of 120,000 sq ft of space. The third and final letting is for a 'best in class' Zara with a new 40,000 sq ft regional flagship launching in the first half of 2026. This 'significant upsize' of will include the brand's latest concept and digital features, while offering a full range of womenswear, menswear and childrenswear. Hammerson said the relocation of TK Maxx 'represents the trend of retail consolidation across the UK and its opening… led to queues and boosted footfall, with customers drawn to the brand's considerable line-up of home and fashionwear'. It also noted that the Hollywood Bowl entertainment space, 'add[s] more reasons to visit The Oracle, day and night, providing a new and exciting draw to the catchment'. Meanwhile, new Oracle lettings include Jewells and beauty brand Kiko as part of renewing the retail offer and mix. Harry Badham, chief development and Asset Repositioning officer at Hammerson, said: 'We are confident, based on our track record, that the completion of this phase will hugely benefit customers and underpin the future retail evolution of The Oracle, firmly establishing its place as a top UK retail destination with its catchment of three million people. 'We won't stop here and are continuing to invest in the next phases of repositioning, putting The Oracle on the map for customers and brands.'
Fashion Network
a day ago
- Business
- Fashion Network
Hammerson completes Oracle "repositioning" works with Zara regional flagship letting
Commercial property giant Hammerson has completed the first 'substantial' phase of a reworking of its Reading, Berkshire, shopping centre The Oracle, with the highlight a transformation of its former anchor department store into three new brand offers, including an all-new Zara. Having already moved TK Maxx in May into a new space, this will be followed by a £4.5 million fit-out for a Hollywood Bowl leisure space opening in July on the Riverside, at a combined total of 120,000 sq ft of space. The third and final letting is for a 'best in class' Zara with a new 40,000 sq ft regional flagship launching in the first half of 2026. This 'significant upsize' of will include the brand's latest concept and digital features, while offering a full range of womenswear, menswear and childrenswear. Hammerson said the relocation of TK Maxx 'represents the trend of retail consolidation across the UK and its opening… led to queues and boosted footfall, with customers drawn to the brand's considerable line-up of home and fashionwear'. It also noted that the Hollywood Bowl entertainment space, 'add[s] more reasons to visit The Oracle, day and night, providing a new and exciting draw to the catchment'. Meanwhile, new Oracle lettings include Jewells and beauty brand Kiko as part of renewing the retail offer and mix. Harry Badham, chief development and Asset Repositioning officer at Hammerson, said: 'We are confident, based on our track record, that the completion of this phase will hugely benefit customers and underpin the future retail evolution of The Oracle, firmly establishing its place as a top UK retail destination with its catchment of three million people. 'We won't stop here and are continuing to invest in the next phases of repositioning, putting The Oracle on the map for customers and brands.'
Daily Mail
04-06-2025
- Business
- Daily Mail
Boss of shopping centre owner Hammerson to step down after five years
The boss of Brent Cross and Bull Ring shopping centre owner Hammerson is leaving after five years. In a surprise update, the company said Rita-Rose Gagne will leave in 2026. Chairman Robert Noel praised her 'outstanding leadership and immense contribution', saying she drove a substantial turnaround. Gagne, 62, previously a senior partner at global law firm Fasken, said: 'I have been privileged to work with our talented teams to transform our culture, balance sheet and portfolio.' She added that now was the right time to 'pass on the baton' and retire from the firm. Hammerson's underlying earnings fell 15 per cent to £99million last year after it offloaded assets, including its stake in Value Retail, owner of Bicester Village near Oxford. It booked a £497million impairment in the first half of 2024 due to the sale, despite banking £595million from the deal.
Fashion United
04-06-2025
- Business
- Fashion United
Hammerson CEO to retire in 2026
Hammerson, owner, operator and developer of prime urban real estate across the UK, Ireland and France, has confirmed that chief executive officer Rita-Rose Gagné will be retiring and stepping down from her role in 2026. In a statement, Hammerson said that Gagné will remain with the business for the next 12 months to ensure 'continuity while a successor is identified'. The company adds that the timeframe will also allow for a 'full handover and orderly transfer of her responsibilities' and facilitate a smooth transition so that Hammerson's growth strategy and operations continue 'at pace and without disruption'. Commenting on her retirement plan, Gagné said: "In 2026, I will have been with Hammerson for an incredible five years, during which time I have been privileged to work with our talented teams to transform our culture, balance sheet and portfolio, returning the business to growth. 'We are successfully executing a clear growth strategy and have tremendous momentum for sustainable long-term value creation. With the business in great shape, a strong team, and significant opportunities ahead, it is an exciting time for Hammerson and the right time for me to pass on the baton." Robert Noel, chair of Hammerson, added: "On behalf of the board and the Hammerson team, I would like to thank Rita-Rose for her outstanding leadership and immense contribution to the business since November 2020. 'During this time, she has driven a substantial turnaround, transforming and strengthening Hammerson into the largest UK-listed, pure-play owner and manager of prime retail and leisure-anchored city destinations. The company is now well positioned to continue to deliver growth and value creation." Hammerson's portfolio includes the Bullring and Grand Central in Birmingham, Cabot Circus in Bristol, Brent Cross in London, and Westquay in Southhampton.
The Independent
04-06-2025
- Business
- The Independent
Boss of Brent Cross shopping centre owner Hammerson to leave in 2026
The boss of Brent Cross and Bull Ring shopping centre owner Hammerson has revealed plans to step down in 2026 after five years in the top job. Rita-Rose Gagne will stay in post as chief executive for the next 12 months while the group hunts for her successor and to ensure a smooth handover. She took on the role in November 2020, joining from global real estate company Ivanhoe Cambridge, where she was president of growth markets. Robert Noel, chairman of Hammerson, praised Ms Gagne's 'outstanding leadership and immense contribution' to the firm. He said: 'She has driven a substantial turnaround, transforming and strengthening Hammerson into the largest UK-listed, pure-play owner and manager of prime retail and leisure anchored city destinations.' Ms Gagne said now was the right time to 'pass on the baton' and retire from the firm. 'In 2026 I will have been with Hammerson for an incredible five years, during which time I have been privileged to work with our talented teams to transform our culture, balance sheet and portfolio, returning the business to growth,' she said. 'With the business in great shape, a strong team, and significant opportunities ahead, it is an exciting time for Hammerson and the right time for me to pass on the baton,' she added. A trained lawyer, Ms Gagne's early career saw her work as a senior partner at global law firm Fasken, covering real estate, infrastructure, corporate mergers and acquisitions. Hammerson owns a raft of retail sites and real estate in the UK, Ireland and France, also including Cabot Circus in Bristol and Westquay in Southampton. It saw underlying earnings fall 15% to £99 million last year after it offloaded some retail assets, including its stake in Bicester Village owner Value Retail to private equity firm L Catterton, backed by French luxury good giant LVMH (Louis Vuitton Moet Hennessy). It booked a £497 million impairment in the first half of 2024 due to the sale, despite banking £595 million in cash from the deal. The group at the time cheered a 'transformative' year after the Bicester Village stake sale, which has allowed it to focus on its urban retail real estate and reduce debts.
