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Hammerson REIT
Type Real estate investment trust
Founded 1942
Headquarters London, England, UK
Key people John Nelson (Chairman)
David Atkins (Chief Executive)
Industry Property
Products Investment, Property management
Revenue £344.2 million (2008)
Operating income £(1,440.8) million (2008)
Net income £(1,573.8) million (2008)
Employees 277 (2008)
Website www.hammerson.com

Hammerson plc (LSE: HMSO) is a major British property development and investment company. The firm switched to Real Estate Investment Trust status when REITs were introduced in the United Kingdom in January 2007. It is traded on the London Stock Exchange and is a constituent of the FTSE 100 Index. The majority of Hammerson's portfolio is in the United Kingdom, but is also operates in continental Europe, including operations in France, Spain and Germany. It invests mainly in offices and retail premises. It is also listed on Euronext stock exchange in Paris.

Contents

History

The business was founded by Lewis Hammerson, who began to invest in property in 1942, converting houses into apartments.[1] His company L.W. Hammerson & Co moved into the commercial property sector in 1948 and became a listed company in 1953.[1] It first expanded outside the UK in the 1960s, when it moved into Australia, New Zealand and the United States. In the 1970s it ventured onto the continent and back in the UK it developed the Brent Cross Shopping Centre, which was the first major covered shopping centre in the country.[2] In the 1990s the operations outside Europe were sold and further properties were acquired in Europe. The year 2003 saw the opening of the new Bullring shopping centre in Birmingham, which was one of the largest city centre retail developments ever built in the UK.[3]

Operations

Hammerson have interests in several major retail developments, including:[4]

Hammerson, Henderson Group and Land Securities together form the Birmingham Alliance who are responsible for the Bullring[3], Martineau Place and the up-coming Martineau Galleries development. Hammerson have been chosen to partner up again with Urban Splash to lead a £1 billion redevelopment of Swansea city centre.[5]

The company also operates a number of high quality office towers in the City of London, such as 99 Bishopsgate as well as the redevelopment of 125 Old Broad Street which was formerly the London Stock Exchange.

Hammerson's current headquarters are 10 Grosvenor Street, London.

The Company's portfolio was valued at £6.5 billion as at 31 December 2008.[6]

Senior management

role salary bonus total
David Atkins [7] Chief Executive Officer £283,000 £93,000 £376,000
Simon Richard Melliss[8] Group Finance Director £369,000 £93,000 £462,000
Peter W. B. Cole[9] Managing Director of Group Investment & Development £369,000 £87,000 £456,000

References

External links

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