Insights into UKretail
19thOctober 2018
Victoria, Leeds
Today's presentation
01 | Introduction and strategy update |
David Atkins-CEO | |
02 | Meeting the challenge in UK retail |
Mark Bourgeois-MD UK and Ireland | |
03 | Continued demand for the right retail space |
Iain Mitchell-UK Commercial Director | |
04 | It's more than just shopping |
Mark Bourgeois-MD UK and Ireland | |
05 | Bullring estate: a flagship destination |
Mark Bourgeois-MD UK and Ireland | |
06 | Questions |
Current backdrop is tough but we have a clear strategy
Tough market backdrop in the UK
Footfall -2.1%
High street fashion sales -7% CVAs, 2018 NRI impact -£7 millionDepartment stores: House of Fraser CVA
Positive UK shopping centre leasing volumes£11.4m, +23% YoY
Proactively enhancing retailer line-upReconfiguration of former House of Fraser store at Highcross complete
Delivering revised strategy announced in JulyHighcross 50% disposal: £236 millionTotal +£530 million disposals achieved YTD Share buyback ongoing: £80 million
Confidence for future of winning destinations
UK portfolio ranked A-/A/A+ grade quality
In July we set out our agenda to boost returns
Focus on flagship retaildestinations and Premium
Outlets
Exit retail parks
Accelerate disposals: £1.1bn over two years
Step change retailer line-upIncreased geographical diversificationDevoting more resource to experience-enhancing events and digitalImplement £300m share buybackDeleverage to mid-30s % LTV
We are delivering on our strategy
Disposal of 50% Highcross£236m
YTD disposals of +£530m
Increased geographicaldiversification 45% non-UK assets(1)
1 Reflects sales of Imperial and Fife Central retail parks and 50% of Highcross
2 Reflects payment of share buyback and interim dividend, and sales of Imperial and Fife Central retail parks and 50% of Highcross
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Hammerson plc published this content on 19 October 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 19 October 2018 12:42:08 UTC