Hammerson to review agency partners at top retail destinations
Hammerson is set to make a number of changes to its leasing advisers across most of its UK and Ireland portfolio, CoStar News has reported.
This comes after the real estate investment trust (REIT) appointed JLL to take over property management services across its portfolio in 2023.
At Brent Cross Shopping Centre in London, which Hammerson jointly owns with Standard Life Investments, the REIT is understood to have appointed Cushman & Wakefield and BGP. Cushman & Wakefield and Lunson Mitchenall had been the retained agents.
In Birmingham, where Hammerson owns the Bullring & Grand Central scheme in conjunction with Canada Pension Plan Investment Board, the group is expected to appoint BWD, JLL, and BGP as its advisers. BWD is currently the agent at Grand Central.
At Bristol’s Cabot Circus the REIT is understood to have appointed JLL and Lunson Mitchenall as its advisers, with the same advisers expected to be appointed at Southampton’s Westquay Mall.
Hammerson is understood to be picking advisers at Dundrum Town Centre in Dublin – which it jointly owns with Allianz Real Estate – as well as The Ironworks, The Ilac Centre, and Swords Pavilions, also all based in Dublin.
Other UK assets where Hammerson is picking agents are reported to be Birmingham’s Martineau Galleries and The Oracle in Reading.
In a statement, Hammerson said: “As part of our ongoing focus to drive efficiencies and create an agile more sustainable platform, Hammerson is undertaking a review of its agency partners. We look forward to providing an update in due course.”
Last year, Hammerson celebrated a year of record leasing, with the REIT completing 306 deals in 2023.