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"A billion-pound facelift for the Brent Cross shopping centre in north London heads the 'to do' list for Hammerson, after the company suffered a writedown-related plunge in profits for 2016.
"The 40-year-old Brent Cross, Britain's first entirely enclosed shopping mall [no, it's not], is showing its age and the redevelopment will double the size of the existing site close to the North Circular, as well as bringing it into the 21st century [eh?].
"Hammerson’s share of the cost is put at up to £550 million, with Standard Life, its joint venture partner on the site, also footing the bill."