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Hammerson Owns a Portfolio of Prime Property Assets in the UK and France

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102 ProPerty Portfolio Hammerson owns a portfolio of prime property assets in the UK and france. the portfolio, which is valued at £5.3 billion, includes 17 major shopping centres, 17 retail parks and seven office properties. Hammerson plc annual report 2010 103 UK shopping centres our nine UK shopping centres attract over 160 million visitors each year and rank amongst the top 30 retail destinations in the UK. the portfolio includes internationally recognised city-centre schemes such as bullring, birmingham; brent cross in north london and o the oracle, reading. the most recent additions to our verview portfolio are Union square in aberdeen, which we completed in october 2009, and silverburn, glasgow, acquired in december 2009. Brent Cross, London NW4 JV partner: Standard Life (59%) Brent Cross, situated in affluent North West London, Key dates: 1976 developed, 1995 enjoys a loyal customer base with 15 million visits per refurbished year. The centre is regularly the location of choice for tenure: Leasehold bU international fashion retailers launching in the UK, principal occupiers: Fenwick, John review financial and siness governance such as Abercrombie & Fitch’s brand Hollister, which Lewis, Marks & Spencer, Waitrose opened its first UK store at Brent Cross in Summer number of tenants: 117 2008 and Banana Republic, which opened its first UK unexpired lease term to expiry: 8 years Ownership mall store in December 2009. The centre benefits from occupancy rate: 99.6% strong transport links: it is served by three main arterial rents passing: £18 million p.a. 2 41% routes – the M1, A406 and A41 – three train stations, average rents passing: £1,135 per m environmental rating: None Property net internal area and a major bus station. Hammerson and Standard 2 Life have secured planning consent for a major 83,200m extension to the centre which includes the Cricklewood development area adjacent to the centre. Highcross, Leicester J V p a r t n e r : R o y a l M a i l P e n s i o n P l a n ( 4 0 %) Highcross opened to the public in September 2008 Key dates: 2002 acquired, opened following a three-year development and refurbishment September 2008 (redevelopment and programme. This major project comprised an refurbishment) extensive refurbishment of the former Shires shopping tenure: Freehold centre, together with a 61,000m2 mixed-use extension. principal occupiers: Cinema de Lux, The project, which created two new iconic anchor Debenhams, House of Fraser, John buildings and two public squares, more than doubled Lewis, Next, River Island, Zara Ownership the size of the existing centre with 40 additional retail number of tenants: 132 units, and revitalised Leicester’s shopping, dining unexpired lease term to expiry: 13 years statements financial 60% and city centre living. The scheme is anchored by occupancy rate: 95.3% Property net internal area John Lewis, House of Fraser, Debehams and Next. rents passing: £17.3 million p.a. 2 2 Recent openings included Jones the Bootmaker and average rents passing: £445 per m 104,700m Foot Asylum. environmental rating: BREEAM Very Good Bullring, Birmingham JV partners: Future Fund (33%), Developed in 2003 and now owned in a three-way joint Henderson Global Investors (33%) venture between Hammerson, Henderson Global Key dates: 2003 developed Investors and Future Fund, Bullring has transformed tenure: Leasehold P ro principal occupiers: Debenhams, Birmingham’s city centre. With footfall of almost PertyP 40 million a year, it is one of the UK’s most successful Selfridges retail destinations and regeneration projects. number of tenants: 163 ortfolio Anchored by Selfridges and Debenhams, Bullring unexpired lease term to expiry: 8 years Ownership continues to attract high quality aspirational UK and occupancy rate: 99.3% international brands, demonstrated by recent lettings rents passing: £16.4 million p.a. 2 33% to Forever 21, Hugo Boss and Hollister. The catering average rents passing: £495 per m Property net internal area offer continues to flourish with 14 restaurants including environmental rating: None 2 Pizza Express, Wagamama and Jamie’s Italian and we 124,300m have received planning permission for an additional 1,000m2 restaurant quarter. 104 ProPerty Portfolio Cabot Circus, Bristol JV partner: Land Securities (50%) Cabot Circus opened to the public in Key dates: Opened September 2008 September 2008 following a three-year tenure: Leasehold construction programme. The retail element principal occupiers: Harvey Nichols, is anchored by House of Fraser and Harvey House of Fraser Nichols department stores and provides number of tenants: 134 150 retail units, including 15 flagship stores, unexpired lease term to expiry: 11 years cafés, bars and restaurants. The scheme also occupancy rate: 98.5% Ownership includes 250 residential units, a 13-screen rents passing: £15.1 million p.a. 2 Cinema de Lux, two new public squares, average rents passing: £385 per m 50% three pedestrianised shopping streets and environmental rating: BREEAM Excellent Property net internal area 2,600 parking spaces. Since opening, the 2 centre has continued to attract a range of 95,600m aspirational retailers, including Hollister. Recent openings include PC World, GarmentQuarter, Bergshaw and Krispy Kreme. the oracle, Reading JV partner: ADIA (50%) Since opening in 1999, The Oracle has Key dates: 1999 developed become the foremost shopping and leisure tenure: Leasehold destination in the Thames Valley region. principal occupiers: Debenhams, Developed in a joint venture between House of Fraser Hammerson and the Abu Dhabi Investment number of tenants: 114 Authority (ADIA), The Oracle continues to unexpired lease term to expiry: 8 years attract UK and international retailers including occupancy rate: 99.3% Ownership Reiss, L’Occitane, Crew Clothing, Pandora rents passing: £14.0 million p.a. 2 and Lakeland. The Riverside, The Oracle’s average rents passing: £530 per m 50% restaurant and leisure venue designed to environmental rating: None Property net internal area regenerate Reading’s riverside area, is home 2 to 18 cafés and restaurants including Jamie’s 70,700m Kitchen and Tampopo, and a 10-screen Vue cinema. WestQuay, Southampton JV partner: GIC (50%) Developed by Hammerson and opened in Key dates: 2000 developed 2000, WestQuay has established tenure: Leasehold Southampton as the region’s premier principal occupiers: John Lewis, shopping destination. Many of WestQuay’s Marks & Spencer retailers are unique to the region, including number of tenants: 93 flagship fashion and lifestyle stores. Recent unexpired lease term to expiry: 6 years openings include Jones the Bootmaker, occupancy rate: 99.2% Ownership Pandora, Yo! Sushi, and TM Lewin. rents passing: £13.8 million p.a. 2 Hammerson is working on proposals for the average rents passing: £620 per m 50% next phase of Southampton’s regeneration, environmental rating: ISO 14001 Property net internal area Watermark WestQuay, on a 2.4 hectare site 75,600m2 adjacent to the shopping centre. Hammerson plc annual report 2010 105 union Square, Aberdeen Key dates: Opened October 2009 Union Square, Aberdeen, opened to the public tenure: Freehold in October 2009 and provides a combination principal occupiers: Apple, Cine UK, H&M, of traditional mall shopping and a retail terrace. Marks & Spencer, Next, Zara Adjacent to Aberdeen’s central railway station, number of tenants: 69 the scheme is the largest development of its unexpired lease term to expiry: 15 years 2 occupancy rate: 87.8% type in Scotland, providing 18,000m of retail o units, a 15,000m2 shopping park, 10-screen rents passing: £12.3 million p.a. verview Ownership 2 cinema, 5,700m2 of restaurants and catering average rents passing: £355 per m space, a 200-bed hotel 1,700 parking spaces environmental rating: BREEAM Very Good 100% and a new civic square. The centre has Property net internal area brought new retailers to the city including 2 Apple, Hollister and Gio Goi, as well as 53,300m restaurants such as Wagamama and Giraffe. Silverburn, Glasgow JV partner: Canada Pension Plan Investment Hammerson and Canada Pension Plan Board (50%) bU Investment Board (CPPIB) entered into a Key dates: 2007 opened, 2009 acquired review financial and siness governance 50:50 joint venture to purchase Silverburn in tenure: Freehold December 2009. Opened in 2007, Silverburn principal occupiers: Debenhams, Marks & is a single-level covered centre with 100 Spencer, New Look, Next, Tesco Extra tenants and 4,500 parking spaces. The site number of tenants: 100 includes a 20,000 m2 Tesco Extra. The centre unexpired lease term to expiry: 11 years Ownership attracts approximately 14 million customers occupancy rate: 98.6% per year and is anchored by Debenhams, rents passing: £9.4 million p.a. 2 50% Marks & Spencer, Next and TKMaxx. 2010 average rents passing: £340 per m Property net internal area lettings included Fat Face, Handmade environmental rating: None 2 Burger Co and Modelzone. In October 2010, 91,100m Hammerson received planning application approval to extend the existing centre by an additional 7,728m2, creating high-quality retail and leisure space. Queensgate, Peterborough JV partner: Aviva Investors (50%) The centre is a fully enclosed two-level Key dates: Acquired 2005 shopping centre with 117 tenants and 2,300 tenure: Freehold car parking spaces. Hammerson acquired its principal occupiers: Bhs, Boots, John Lewis, Marks & Spencer, Next, Waitrose 50% interest in the centre in 2005. Adjacent to statements financial the city centre railway station, it represents number of tenants: 117 the principal retail offer in Peterborough with Weighted average unexpired lease term: 16 years an annual footfall of 15 million. The scheme is occupancy rate: 95.7% Ownership anchored by John Lewis, Marks & Spencer rents passing: £7.9 million p.a. 2 and Waitrose. The centre is being average rents passing: £325 per m 50% repositioned to bring new retailers into the environmental rating: None Property net internal area city including a new 5,500m2 Primark unit.
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