City-centre shops and malls lost their lustre during the pandemic, but as lockdowns ease across Europe many stores in and around residential areas stand to benefit as consumers remain reluctant to venture far from home.
Klepierre has re-opened 80% of its European malls and hopes to re-open 90% of them within 10 days, the company said on Tuesday, as global businesses slowly return to work after the coronavirus shutdown.
Just a day after Hammerson and APG said they’re taking full control of Via Outlets, comes news that the UK mall operator may be mulling the sale of its £1.9 billion stake in Value Retail, the Bicester Village owner.
Intu's Hammerson merger may have been called off after Hammerson became a bid target, but now Intu is the subject of a possible bid as a consortium of UK and international investors look at making a play for the company.
Hammerson announced it is trimming its exposure to department stores and high street fashion retailers in a strategy update unveiled on Tuesday, as pre-tax profits plunged by 80% in the first half of the year.
The collapse of its merger deal with Intu may have been a shock to Hammerson’s system but the malls giant is hitting back with a review of its strategy on which consultant McKinsey is working, a newspaper said Monday.
A £3.4 billion takeover of British shopping centre operator Intu Properties by bigger rival Hammerson has been formally scrapped after Hammerson was freed from its obligation to hold a shareholder vote on the deal.
Will a day go by this month when Hammerson isn't in the news? Perhaps not. The big story today is that the proposed mega-merger between the shopping centres giant and its smaller peer isn't going to happen.