Daily Telegraph: "Retail sales suffer biggest fall in nine months"

Link to Daily Telegraph

"Retail sales volumes fell by a larger-than-expected 0.8pc between January and February, the Office for National Statistics (ONS) said."

"... Samuel Tombs of Capital Economics said: 

"February's UK retail sales figures leave the recovery on the High Street looking a bit more fragile than it previously seemed ...

So, with yesterday's Budget doing little to ease the burden of the next round of austerity measures due to hit households in April, the high street recovery looks set to be short-lived again."

"What the papers say"

'More pain than gain', an 'audacious gamble' and 'Gran Theft Auto'.

Here's what the papers have been saying about this year's Budget.

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Link to The Guardian

The Guardian: Budget 2012

"... Osborne says the economy was in a benighted state back in 2010, and has since had to cope with the rolling crisis in the eurozone and the sharp increase in oil prices. While the government's shock treatment has clearly not helped, the chancellor is right when he says manufacturing was woefully neglected by the last government, at least until its dying days. He is also right to point out that growth in the boom years was heavily dependent on speculation in the City of London and the housing market, which generated – for a while – the revenues for higher public spending. 

" Those days are now over, and unless the UK can pull its socks up, according to Osborne, it faces becoming a global also-ran. That seems a fair assessment also. With its weak growth, high youth unemployment and industrial wastelands, the UK bears the hallmarks of a country in long-term structural decline."

The Guardian: "Up to 40% of high street shops 'could close over next five years'"

Link to The Guardian

"Four out of 10 shops will have to shut in the next five years, as consumers turn their backs on traditional stores in favour of online shopping, according to a report which casts more doubt on the future of the beleaguered British high street.

"With retail experts increasingly painting a picture of a future high street lined with coffee shops and internet kiosks, a report from Deloitte highlights how the boundaries between physical and virtual space are becoming blurred, with thousands of shops likely to face closure in coming years."

Prime Minister David Cameron's speech on national infrastructure

"Our railways are crowded and expensive.

"Compared to the French, Dutch and Swiss railways, our fares are 30% higher, our running costs are 40% higher,

and our public subsidy is double theirs."

Link to Number 10 and video

"...The truth is that no government in Britain in living memory has set out a sufficiently comprehensive and ambitious vision of this country’s infrastructure needs.  And by a comprehensive and ambitious vision, I do not just mean a list of projects; I mean an overall system, an integrated set of networks that collectively deliver the economic and social goods.

"As well as this failure of vision, there has also been a failure of financing.  Everybody knows that infrastructure is expensive; one academic assessment puts the bill at £500 billion just to meet our current commitments.  And we cannot hide from the fact that new infrastructure has to be paid for either by those who use it, by government, or by a combination of the two."

BBC: "London elections: People in suburbs 'more likely to vote'"

Link to BBC web site

"A map has shown people in the suburbs of London are more likely to turn out and vote than those in the inner city.

"The heat map from London Elects, which organises the poll, has been published as the campaign for London mayor officially got under way.

"The mayoral and London Assembly elections take place on 3 May."

Barnet Times: "Barnet Council leader 'sets expectations low' for Barnet"

Film-maker Charles Honderick
Link to Barnet Times

"This evening saw the premiere of a new documentary film about Barnet, in which Richard Cornelius, Barnet’s council leader, said he had 'set his expectations quite low' for the borough.

"Tale of Two Barnets, by Charles Honderick, was shown at the Phoenix Cinema in East Finchley."

Wed 11 April: Evening Standard: Mayoral debate

Link to Evening Standard

"Tickets for the Evening Standard’s mayoral election debate are available, free of charge.

"Tory Boris Johnson, Labour’s Ken Livingstone, Lib-Dem Brian Paddick and Green Jenny Jones will debate issues including transport, policing, and the capital’s economy. Anyone wishing to attend can book a ticket on a Standard web page, and can at the same time suggest questions to be put to the candidates during the event."

Incisive Questioning of Hammerson's Chairman by, er, Someone Else at Hammerson

Link to Hammerson web site

Q&A with the Chairman

Hammerson's General Counsel and Company Secretary Sarah Booth talks to John Nelson about the latest developments in corporate governance and the Company's approach to emerging themes.

SARAH BOOTH: "In 2010 the Financial Reporting Council issued the new UK Corporate Governance Code and recommended that in the Annual Report the Chairman makes a personal statement to shareholders regarding governance.

"I am interested in your views on corporate governance generally."

JOHN NELSON: "I am a strong supporter of the principles of good governance originally established by the Cadbury Committee in 1992, which have proved so valuable over the years and which now form the basis of the new UK Code."

Link to Annual Report 2011
(Feb. 2012)

SB: "Have we still got more work to do on improving our standards of governance?" [Well, he's not going to say 'no', is he? And this isn't exactly a verbatum single-take interview, is it? It does say 'talks' above, does it not?]

JN: "There is always room for improvement and no Board should ever be complacent. We are charged with delivering the long-term success of our Company and we take this duty very seriously. ..."

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From Annual Report:

"Hammerson has been creating and managing some of the most exciting retail destinations and office buildings in Europe for over 60 years. Hammerson’s vision is to be the best owner-manager and developer of retail property within Europe. We specialise in prime regional shopping centres and convenient retail parks. 

"Our aim is to outperform through two areas of focus:

• income growth, and 
• high quality property

both of which are underpinned by our capital strength."

 Chief executive’s report

"Hammerson's business model is to:

• Own prime properties in the best locations
• Ensure buildings are modern, well maintained and relevant for customers
• Maintain significant scale in key markets
• Retail property specialism to foster innovation
• Ensure venues are positively differentiated from competition
• Drive income growth through optimum tenant mix and high occupancy.

"Our revised strategy will enhance the focus on income growth and efficiency, and therefore we anticipate being able to grow dividends at a higher rate than in recent years.

"We have leading positions in both the UK and French retail property markets, where we will increase our presence in successful locations through development or acquisition. We will concentrate on regionally dominant shopping centres, convenient retail parks and premium designer outlet villages. Our intention is to remain an active recycler of capital in order to secure opportunities to create higher returns for shareholders.

"Within our London office portfolio, we will continue to implement our business plans to increase the value of our office assets and developments. Our intention is to sell our standing office investments over the medium-term to maximise value. We have a small number of London office development projects and strategic mixed-use sites that offer superior returns, where we will continue to allocate capital to increase the overall value of the projects. Where appropriate, we will introduce funding or JV capital to de-risk projects and reduce our overall commitment."

[Our comment on Brent Cross Cricklewood:
That seems to mean one foot is out the door already.
Any more involvement from tax havens, by the way?]

 Corporate responsibility

"European governments are increasingly focused on community engagement. At a national and local level we work with key stakeholders to align our community investment strategy with local priorities and needs. This was evident in our response to the civil unrest that occurred in the UK during the summer of 2011. We implemented a coordinated response to manage both the immediate and long-term impacts in the areas where we operate. We provided finance, skills and expertise to support local businesses and communities. 

Now that the Localism Act has been passed in the UK, we have implemented a number of measures around community consultation to further support our partners." [Although London Borough of Barnet doesn't do 'community'.]

 Business review

"There continues to be strong demand from retailers for well located, high quality accommodation in the UK and France. Planning restrictions, together with the expertise and funding required to build and operate prime shopping centres of this type, constrain their supply but our pipeline provides some exciting retail development opportunities.

"Brent Cross/Cricklewood and The Goodsyard are two further significant, long-term urban regeneration projects with a retail focus which we will continue to progress." [Using a tax haven?]

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Link to HOME (see all posts).

Trip Advisor: "Holiday Inn London - Brent Cross: Traveller Reviews"

Link to Trip Advisor

We are not reprinting comments on the service provided, but some 'environmental' issues raised are...

• "The location right on the North Circular Road is depressing. Quite difficult to navigate into the car park - several of my colleagues got lost trying to find it."
• "... the rooms are very hot, and if you open the windows the road noise is noticeable, even on the 8th floor. Be aware there is also a Tesco 24-hour car park (to the left side of the hotel) 300 yds away, and until 2 am cars took to racing around doing screeching 'donuts'; then came the police helicopter!!"
• "Free shuttle to tube station was handy. Don't do what we did and try to walk from the tube to the hotel - a) too far with luggage; b) it was dark, and we had to navigate to scary underpasses!!"
• "This is a depressing hotel to stay at. The location, whilst right at the end of the M1, has nothing to commend it. The views from either side of the hotel are truly awful - in front, the North Circular Road, to the rear, a deserted building lot." [The latter may change - but don't count on it!]

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Hotel web site

Daily Telegraph: "Chinese move to their eco-city of the future"

Link to Daily Telegraph

"The Sino-Singapore Tianjin Eco City - the world's largest eco-city - is not a green, carbon-free paradise where cars are banned from the streets.

"It is far more practical - a model for how Chinese cities could develop and solve some of the enormous problems facing them: permanent gridlock, a lack of water, and ruinous electricity bills.

"If a few of the small changes adopted in Tianjin were rolled out nationwide, the results could dramatically change China's devastating impact on the environment."

Tues 20 March: Fenwick: Carluccios Level 1: FOCACCIA MAKING CLASS

Come as a novice, leave as an expert! 

"Roll up your sleeves and enjoy making this famous, rustic Italian bread along with an impressive but easy-to-make calzone. We'll send you home with the recipe and a goody bag to inspire some home-baking. To book your place or for further information please call 020 8203 6844. 

"A booking fee of £20 per person is required."

Evening Standard on London Property (Still no news of Hammerson/Westfield and Whitgift Centre?)

Link to Evening Standard

Aldgate: "Last Friday’s announcement that homes instead of offices are to be built on a two-acre abandoned office plot on the eastern rim of the City marks an upturn in the fortunes of Aldgate and a downturn in the reputation of a hapless US developer who gambled millions on a huge office scheme that never got out of the ground."

City: "The 38-storey concrete core of Land Securities’ Walkie-Talkie tower on Fenchurch Street looked neck-creakingly close to full height on Tuesday. A three-minute stroll up to Leadenhall Street found the steel frame on British Land’s 52-storey Cheese grater jutting just five storeys above ground."

Nine Elms: "Over the coming decades, the 480-acre zone centered on New Covent Garden and Battersea Power station will be shaped very differently [from Docklands].

What has been set up instead is an economical but rather conflicted private-public partnership, made up of developers who own the land, and those whose job, one day, will be to grant or refuse planning permission."

[We know all about that at Brent Cross, don't we?]

19 to 25 March: Fenwick: Beauty Event

Tips & treats, workshops, gifts & offers from leading and contemporary names at Fenwick

"Sign up or use your existing Fenwick Beauty Card during Beauty Week and get double points. For every £35 or more spent with Cosmetics or Toiletries you collect two points*. When you have collected ten points you will receive a discount of £15 off your next cosmetics or toiletries purchase. Treat yourself and we'll treat you!"

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(No, the asterisk doesn't link to anything; it's just an asterisk.)

Bloomberg reports Brent Cross's Hammerson is possible takeover victim

Link to Bloomberg

"European real estate investment trusts have become likely takeover targets after share prices failed to keep pace with asset values, JPMorgan Chase & Co. said.

"Companies that may attract bids include the U.K.’s Hammerson Plc (HMSO).

"... Hammerson’s discount to net asset value should narrow after the company carry’s [sic] out a plan to sell its office portfolio, JPMorgan said in the note. The developer decided to focus on retail assets because they expect 'superior returns' compared with office buildings, Chief Executive Officer David Atkins said in a Feb. 24 presentation to analysts."

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Link to "Westfield Group Discusses Partnership With Owners of U.K. Shopping Center"

The Guardian: "Why are councils spinning against freedom of information?"

Link to The Guardian

"...It's striking that the Local Government Association decided not to highlight how freedom of information has held town halls to account by exposing waste and maladministration. The Barnet bloggers showed how the council used an unlicensed security firm to covertly film residents. Perry Austin-Clarke, editor of the 'Bradford Telegraph & Argus, used FOI to discover the council was spending £500,000 on mobile phones bills. It subsequently fell to £100,000.

"A series of FOI requests by the Daily Telegraph exposed how local authorities spent £2m on hotel bills over just 3 years – including stays at the Four Seasons in New York, the Pan Pacific in Singapore, and the Athens Hilton. The beauty of FOI is that it gives the public the same powers of inquiry as elected councillors."

The Guardian: "London air pollution at record high"

Link to The Guardian

"Air pollution in London hit record levels on Thursday due to a combination of traffic fumes, relatively still weather and an influx of dirty air from the north of England and northern France. Poor conditions are affecting a swath of the country as far north as Leeds and York

"... Last month, the environment secretary, Caroline Spelman, was criticised by an influential group of MPs for rejecting their recommendations to cut pollution on the grounds that it was too costly. Poor air quality has been linked to nearly one in five deaths a year in London. The capital's poor air quality, caused largely by traffic, has seen the UK facing £300m in fines for breaching EU targets. The government has successfully lobbied Europe to push back the deadline for meeting the targets."

Monday 19 March: Shopping Centre: Judo Master Class

Link to shopping centre web site

"Olympic judo hopeful Lee Shinkin has his sights set on qualifying for this year's games – and now Brent Cross Shopping Centre has stepped in to help him bag the opportunity of a lifetime.

"The shopping centre has kick started an appeal to help the 25-year-old Hendon man's bid for 2012 glory by donating an initial £1,500 to a fighting fund. And now it wants other North Londoners to join in and help Lee.

"Master classes start at 4.00pm, 5.00pm and 6.00pm, with a 15 minute display, followed by a 30 minute class. All ages welcome. All abilities welcome; no judo experience is needed."

"Find out more about The Lee Shinkin Fund here."

Thursday 5 April: Transport question time with Mayor of London candidates

Book tickets and submit questions at
'Living Streets' web site

Transport question time with Mayor of London candidates

Date: 5 April 2012

Time: 6.30pm for a 7pm start

Venue: Friends House, NW1

In the run up to the Mayor of London election, 'Living Streets' is organising a transport question time event. Boris Johnson, Ken Livingstone, Brian Paddick and Jenny Jones have all confirmed that they, or a senior representative, will attend.

In partnership with 'Campaign for Better Transport' and 'Movement for Liveable London', we are aiming to make sure that transport is a key election issue.

The event is your chance to quiz candidates on how they plan to keep London moving over the next four years. And find out how they would go about creating a safer, cleaner and better London for everyone.

Packed and expensive public transport, an increasingly vocal pedestrian and cycling community and forecasts of transport chaos during the Olympics are areas to debate. All aspects of London transport will be considered, with an emphasis on how to improve conditions for pedestrians, cyclists and passengers.

Panel and chair to be announced shortly.

Evening Standard: "Westfield malls defy the gloom with £2 billion sales bonanza "

Link to Evening Standard

The new Westfield 'super malls' will ring up almost £2 billion in sales this year, despite the austerity-era gloom on the high street.

"Bryan Roberts, research director of consultants Kantar Retail, said: 

“They have hit the nail on the head. They have given people exactly what they want - an enjoyable day out that extends into the evening with a restaurant meal, a visit to the cinema or a trip to the bowling alley.

“Stratford City has tapped into a huge well of undeserved shoppers who previously had to travel to Bluewater or Lakeside, which are both looking pretty tired now. People had been sceptical about the scale of the development, and it all goes to show that the demise of the British consumer had been overstated.”

Cycling across the Great Divide (the North Circular Road)

Link to Londonneur web site and video

"On 25 March at 10am, I will be outside New Southgate train station, ready to take part in Barnet’s Great Divide Ride. I know why I will be there, but I wonder what I can say to encourage someone from further afield to make the short trip up to New Southgate to support us."

Brent by-election (next to Hammerson's Brent Cross Cricklewood site)

(Leaflet produced by campaign that wishes to retain old Willesden library building in a possible new development)

Hammerson in London shopping centre battle

Link to Daily Telegraph
(picture is of Meadowhall, Sheffield
OK. It's irrelevant.)

"... Meanwhile, the owners of the Whitgift shopping centre in Croydon will this week identify their preferred partner for a major development of the centre. Whitgift Foundation, the owner of the freehold, said last year it would work with Westfield to develop the site.

"However, the leasehold owners may find their own development partner, and have shortlisted Grosvenor, Lend Lease, Hammerson and Westfield.

"If the leasehold owners choose a partner other than Westfield, then it threatens a major row over the future of the site, which is seen as one of the most lucrative retail development prospects in London."

The past, when it was the future

1945 plan - a lower, gentler, un-Hammersoned Brent Cross

As built

"This 1955 postcard (above) proudly shows off Coventry's newly-completed Upper Precinct. It wasn't to everyone's taste, though. I must admit not being too keen myself on the 'block' buildings, and the uninteresting straight lines everywhere. At the time, though, this 'Festival of Britain' design with its safe pedestrian walkways won awards, and was copied world-wide."

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A day in the Seventies?

Modernisation

"Even before the Second World War broke out, the architectural department at Coventry Council was drawing up ways of rebuilding the outdated medieval city. 

"Little could they have guessed that the town centre would be virtually erased just two years later. Whilst grieving along with the rest of Coventry's population, once the rubble was cleared the City Architect and the council were not slow to publicise the positive aspect of the blitz, and grasp the fact that the bombing had presented them with a clean canvas on which to build a new city."

Click on any image to link to
"Coventry: The post-war years"

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Link to HOME (see all posts).

Clarins Blooming Beauties and Yummy Mummies Event at John Lewis Brent Cross

A pampering and informative evening for new mums and mums to be!

There'll be:

• Lingerie advisors offering advice on maternity and nursing bras
• Nursery advisors offering hints and tips on buying for baby
• Clarins skincare consultants will be demonstrating the latest skincare and well being products.
• A chance to enter a prize draw to win a Clarins beauty hamper worth £180 or a John Lewis baby bath set with accessories.
• Plus receive a complimentary hospital goodie bag containing essential skincare items.
• A £5 booking fee applies and is redeemable against any Clarins purchase.

To book your place please call 020 8202 6535 or visit the Clarins counter at John Lewis Brent Cross.

David invests in France, and Larry has a Vision

Link to Property Week (requires registration after first use)

"Hammerson chief executive officer David Atkins today said that much of the money raised from the sale of its London portfolio will be invested in France.

"The company announced two weeks ago that it would be selling its London portfolio in order to focus the business on retail."

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The Business Desk:

"David Atkins, Chief Executive Officer, sold 14,831 shares in the company on the 2nd March 2012 at a price of 403.80p. The Director now holds 172,731 shares."

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VPO Press Release:

'Lawrence Hutchings gets excited'

"Lawrence Hutchings, Hammerson managing director UK retail, outlined the company’s vision for Croydon, at a summit aimed at attracting investment at the prestigious MIPIM event in Cannes, France.

"He re-iterated Hammerson’s hopes of uniting Croydon’s shopping core by adding Whitgift Shopping Centre to its portfolio, in the face of a public declaration of interest from Westfield.

“We are very excited about the opportunity that exists in Croydon. We identified about two-and-a-half years ago that Croydon could become a southern point in London’s retail compass." [Good grief.]

 
["QUIET, YOU LOT!" An unsuccessful video, perhaps.]

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"THE OWNERS of Croydon’s 1.2m square foot Whitgift shopping mall will next week announce their preferred bidder for the hotly contested redevelopment of the centre.

"Westfield, Grosvenor, Lend Lease and Hammerson are all vying for control of the mall, which is being revived as part of Croydon’s wider regeneration scheme."

Barnet Times: "Barnet Council sold more land than any London borough, figures show"

Link to web site

"Barnet Council has sold off more public land in the last three years than any other London borough, figures show.

"A freedom of information request by BBC London showed that the authority agreed to sell eight plots covering more than 147,000 square metres for £12.9 million since 2008."

Daily Telegraph: "Developers now to be forced to build on brownfield sites before the countryside"

Link to Daily Telegraph

"Ministers want to replace over 1,200 pages of planning guidance with a new 52 page document called the National Planning Policy Framework (NPPF) to clear away red tape and to stimulate development and economic growth. 

"Ministers hope that rebalancing the reforms will ease fears of countryside campaigners that the changes will give developers a 'licence to build'. The final draft is being circulated in Whitehall for approval by other department. Vince Cable, the Business Secretary, has yet to agree to the final draft.

"The Daily Telegraph understands that the new NPPF includes an explicit 'brownfield first' commitment, which will require councils to favour development in urban areas, ahead of rural parts of England."

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Link to HOME (see all posts).

MAPIC Nov. 2011 – "The future of the high street: lessons shared"

Moderator: Damian Wild, Editor, Estates Gazette (UK)
Speakers:
Justin Taylor, CEO of Cushman & Wakefield’s UK Retail & Leisure
Barry Hughes, HOK International Ltd (UK)
Richard Akers, Managing Directork, UK Retail, LandSecurities (UK)
Link

Railways: Build the Infrastructure, and They Will Come

Link to Evening Standard

"Crossrail is set to have an astonishing impact on regeneration in the capital, as exclusive new research reveals, says David Spittles.

"Many experts believe that transport-led regeneration is the single most important factor boosting the value of property. And, if they are right, then Crossrail, the east-west link through the capital, is the upgrade that will have the biggest impact in London yet."

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Link to Transport page.

Cyclists: Henlys Corner and the Crossing of Doom

Link to Barnet Cyclists web site

Sunday 25 March, 10am: Barnet’s Great Divide Ride

"Barnet’s Great Divide Ride is a “Giro d’Juntions”, if you will. The North Circular Road (A406) is a challenging barrier to cycling to and from north London. Join us as we zig-zag our way over all of the crossing points on the A406 from New Southgate to Staples Corner.

"The ride will finish around lunchtime, with a picnic at the secret park in the center of Staples Corner.

"This a fun ride, the pace will be slow and it will be suitable for all ages. It will be orderly and professionally marshaled, so that all the family can safely make their way over some of the worst junctions for cyclists in north London."

The Lawyer: Hammerson in Cannes

MIPIM 2012, Cannes, France: key figures: 4200+ real estate investors, 19000+ participants, 4 days of intensive real estate business

Link to web site

Despite sleeping in, Eversheds London real estate head Bruce Dear’s luck was in on the way to Mipim, where he plans to punctuate his cocktail drinking with a spot of thought leadership. Tuesday, 3.32pm:

"Of course, Mipim’s not all cocktails and promenades along the Croisette you know (no - really!). We have a big thought leadership event tomorrow afternoon on the Future of the Market, which I am chairing, with some key figures from Hammerson, Legal and General and the Swedish National Pension Fund, and colleagues and I have meetings with clients on new fund structures to be launched in the autumn. We also have a substantial international lunch tomorrow to introduce clients to our global network and a big set piece dinner on Thursday.

Should be fun and hard work (“Call that work”, as my Dad would have said) and the train rumbles on under a sky that’s (disappointingly) more Cleethorpes than Cannes."

Wealth Manager: "Property: is London office market about to peak?"

Link to Wealth Manager / City Wire

"Last week, FTSE 100 real estate company Hammerson announced it was quitting the London office market and selling £500 million worth of property.

"The move came days after an industry survey by Investment Property Forum (IPF) showed office forecasts for 2012 have fallen significantly over the past three months, stoking fears that a peak in London’s office market is looming."

The Jewish Mother: "BRENT CROSS: A LOVE HATE AFFAIR"

Link to 'The Jewish Mother'

"North-West London just wouldn’t be North-West London without it! And we all just love to hate it. We all do it, sometimes without even knowing. Someone will ask where we’ve been, and we’ll all give it a good old bashing!"

Here are just a few of our favourites:

• “Went to Brent Cross, IT WAS A NIGHTMARE!!”
• “Brent Cross was CHAOS!”
• “TRAUMA”
• “Brent Cross nearly KILLED me today”
• “Going to Brent Cross later, been putting it off for so long but just gonna have to do it!”
• “Are you CRAZY?? Brent Cross on a SUNDAY???”
• And of course the standard “I HATE Brent Cross!”

Barnet Times: "£4.5bn Brent Cross Cricklewood project unaffected by announcement, says developer Hammerson" (oh, yeh?)

Link to Barnet Times

"The £4.5 billion Brent Cross Cricklewood regeneration project will still go ahead despite the site owner announcing a change in its business strategy.

"Some community groups feel the huge number of offices and houses due to be built there represent an overdevelopment of the site, and some had hoped the announcement would mean a re-think of the plans."

Network Rail: Alternative Solutions

Link to PDF file

"This scoping document is different from all of the previous Rail Utilisation Strategy (RUS) consultation documents, because it considers a range of solutions which may go beyond the current rail network. It also considers solutions from other industries and contexts which may still be in development.

"No organisation has a monopoly on good ideas [although Hammerson thinks it has]. Indeed, we believe that there may be other areas where alternative approaches or technologies have the potential to drive costs down."

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Link also to Department for Transport:

"Green light for Light Rail"

(September 2011)

LSE: Ratings Agency: "Hammerson's strategic change could herald US-style REITs in Europe

Link to web site

"Fitch Ratings says that Hammerson plc's recent strategic decision - to concentrate on the retail sector - could be the catalyst for [European Real Estate Investment Trusts] to transform themselves into sector-specific US-style ones in the medium term.

"... In Europe in the next two to three years, [Hammerson and others will likely] apply much more stringent capital allocation models than previously, placing greater emphasis on optimising their operational excellence and competitive advantage within single sectors, rather than retaining their traditional multi-sector approach." 

[So we say: Get out of your appalling Brent Cross scheme!]

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Link to Barnet Council: "Community Infrastructure Levy"

The Guardian: "Pension funds back infrastructure plan with £4bn" (The Brent Cross Railway? That will do nicely)

Link to The Guardian

"British pension funds aim to launch a multibillion-pound infrastructure fund next year that will invest up to £4bn in government projects from roads and high-speed rail lines to power stations.

"The Pension Protection Fund and the National Association of Pension Funds are in discussions with 20 others, to create a vehicle that will consider investing in the projects outlined by the chancellor, George Osborne, in last year's national infrastructure plan."

CoStar interview: "Hammerson's Atkins in no rush to sell out of offices" (but never to build any at Brent Cross?)

Link to CoStar Group web site
(Picture is of 99 Bishopsgate)

"Speaking to CoStar News, chief executive David Atkins said Hammerson had for some time been reducing its exposure to offices, as part of a strategic belief that the company needed to be specifically focused on one sector to run 'more effectively and efficiently'.

"... [There was] a clear decision to reinvest capital in becoming 'dominant' in retail, by creating a fully multi-channel offering over the next five years:

"This means there are no distractions, as we invest in scaling up and delivering best practice and innovation."

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CoStar Group: 
"Hammerson sells Paris luxury retail block"

"David Atkins, chief executive of Hammerson, said:

"... We have maximised our asset management opportunities and this disposal crystallises a substantial profit on cost, further enhancing our financial flexibility to undertake refurbishment, development and acquisition opportunities within our retail portfolio.''

[Possibly suffering from translation from English to French, to English.

Or he could just speak like this.]

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The Hammerson Brent Cross Transport Plan

 

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Link to HOME (see all posts).

MoveHut: "The Commercial Property website"

Link to MoveHut web site

"The developer Hammerson will now focus [instead] on pumping cash into a host of commercial property retail assets, and adding to the range of commercial property outlets it already owns, such as London’s Brent Cross commercial property shopping centre, Cabot Circus in Bristol, and The Bullring [sic] in Birmingham.

"It also owns commercial property retail centres in France, and is currently building a major commercial property shopping and leisure complex in Marseille, which is due to open in 2014."

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[That's enough commercial property phrases. Ed.]

Barnet Times: "Travelodge reveals plans for five new hotels in Brent Cross, Golders Green, Hendon, Mill Hill and New Barnet"

Link to Barnet Times
(This one's in Bolton)

"Travelodge has announced its intention to build five hotels in the Barnet borough by 2025.

"The budget hotelier is currently looking for space to open new branches in Brent Cross, Golders Green, Hendon, Mill Hill, and New Barnet."

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Link to Carrentals.co.uk: "Travelodge Plans 184 London Hotels"

"There are currently 47 hotels with 6,531 rooms under the Travelodge brand in London, and the company is on target to have another six open before the games. However, the group is planning to open 184 new hotels across the capital by 2025, which will create 5,000 new jobs."

BigHospitality: "Ed’s Easy Diner to open first al fresco site at Brent Cross"

Link to BigHospitality web site

"1950s-style American diner chain, Ed's Easy Diner, is to open its first alfresco unit, and the ninth site in the UK for the group, at Brent Cross Shopping Centre at the end of March.

"Andrew Guy, director of operations of Ed's Easy Diner, said:

"We're delighted to be opening our first outdoor unit at Brent Cross, a landmark return to one of London's busiest shopping centres."

ShoppingCentre: "Hammerson to ditch offices"

Link to ShoppingCentre
web site

"Hammerson has signalled a radical rethink of its corporate strategy, that will see it selling off its office assets to become a specialist retail investor. Until now it had trumpted the advantages of a balanced portfolio of shopping centres, retail parks and offices, across the UK and France."