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Click above for what became the consented plan, plus Transport page.

2013-07-05

[Reposted from Feb 2012] Hammerson's 'Deals and No-Deals', and buying land at Brent Cross


Link to web site

Economical with the truth

"CMS Cameron McKenna in mid-January said it was backing out of its deal with property developer Hammerson over new offices in Principal Place, Shoreditch, with senior partner Dick Tyler attributing the decision to 'unstable market conditions'.

"In the wake of Camerons' announcement, however, speculation was rife that there was more to the decision than the economy. This was fuelled by reports that the firm was in merger talks with Nabarro, which was also alleged to have been in separate talks to move into Principal Place, although those rumours were categorically denied by senior sources at Nabarro."




And in other news...
"Foot Locker slips into Bullring" [sic] 

"Hammerson has secured Footlocker’s [ex-US-Woolworths] second Locker Room store in the UK. at its Bullring [sic] shopping centre in Birmingham.

The letting follows the concept’s European launch at Brent Cross Shopping Centre in November 2011.


Link to CoStar Group web site
(pic: looking south-west, over new Shoreditch High St. station)

CoStar: "Hammerson/Ballymore hammer out Bishopsgate Goods Yard deal" 

"The Ballymore Group and Hammerson, joint developers of the former Bishopsgate Goodsyard, have completed a new deal with site owner Network Rail that will enable them to bring forward plans a phased development of a major mixed-use quarter.

"Andrew Hilston, assistant director at Hammerson said:

“This deal marks an important next step in the process of unlocking the regeneration potential of one of the of the last major undeveloped strategic sites in the heart of the Tech city.”
"Hammerson and Ballymore first began working up plans for the Bishopsgate Goods Yard site in 2002 following Hammerson’s acquisition of a 24-strong portfolio of failed state train company Railtrack’s property interests."
 


Link to Hammerson web site
We know a story about that, don't we, Hammerson?

For immediate release - Friday, 27th December 2002

"Hammerson to Acquire Railtrack Property Interests"

"Hammerson plc has exchanged contracts to acquire for ?63 million [sic] RT Group Developments Limited ('RGDL') and its associated companies from RT Group PLC (formerly Railtrack Group plc). These companies own interests in a portfolio of 24 properties/development sites throughout the UK.

"Hammerson has also exchanged contracts with Ballymore Properties Limited, a private development company based in Dublin, whereby Ballymore will purchase from Hammerson seven of the properties owned by RGDL for ?27 million [sic]. Following these sales, Hammerson will retain direct ownership of 15 of the properties. 

"In respect of the two remaining properties, Hammerson will receive ?5.625m [sic] and enter into joint venture agreements with Ballymore to evaluate and pursue possible future major developments on a 50:50 basis. The seven staff currently employed by RGDL will become employees of Ballymore.

"The principal assets to be acquired and retained by Hammerson are:
"Two freehold warehouses of around 7,100m2 and a 50% interest in Cricklewood Redevelopment Limited (a joint venture with Pillar Property PLC), which is proposing a mixed-use development of around 800,000m2 at Cricklewood, London NW2; ..."

Link to Daily Telegraph
"Mr Richards will collect a year's salary, and
the average of the last three years' bonuses"
"John Richards, Chief Executive of Hammerson, said:
"This is a very exciting transaction for Hammerson which, for a net investment of around ?30 million [sic], gives us control of some key sites in central London. These sites represent a substantial long-term development land bank. We intend to work up these schemes, and advance them as market conditions improve over the next few years. [Ten years later...]

"In particular, the interest we have acquired in the Cricklewood site complements the group's existing ownership of Brent Cross Shopping Centre, and will support a co-ordinated approach to the regeneration and improvement of this area." [Oh, yeh?]

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