Hammerson to focus on city quarters in new retail strategy
Hammerson is to exit retail parks in the medium term in favour of fifteen prime city locations. The disposal target is £1.1 billion by 2019.
Part of this change in direction is the firm's 'New City Quarter' concept and a focus on 'operational excellence and cost savings'. Hammerson points in its step change to devoting more resources to meet increased consumer demand for experience enhancing events and a sophisticated digital offer.
David Atkins, Chief Executive of Hammerson says 'We will reduce the amount of floor space to department stores and high street fashion as we actively focus on the latest consumer trends and take bolder steps to provide the best retail mix'.