Hammerson names exec to key 'development and repositioning' role
In what’s looking like a key appointment in these times of change, Hammerson has appointed a chief development and asset repositioning officer.
Harry Badham has joined the UK-based commercial property giant to oversee the development teams working on "destination repositioning” across the UK, Ireland, and France. His appointment follows last week’s signing of a new chief financial officer.
Badham was most recently UK head of Development at AXA IM Alts, where he led £3.5bn of major investment, development and repositioning projects for a range of funds and joint venture investors. Before then, he was investment director at property development company Allied London.
Hammerson CEO Rita-Rose Gagné said: “Hammerson has urban assets, developments and a land bank with potential for multi-use city centre destinations. As our portfolio transforms and evolves, it is vital that our team has a broad and varied skills base.
“Harry will support this by bringing a creative mindset and extensive development and urban mixed-use experience. He also has extensive expertise in managing multiple stakeholders and partners, which will be key as we work on our strategy to maximise value for stakeholders.”
Badham added: "There has never been a greater chance to transform our city centres to create huge social and real estate value by making them more local, more sustainable and more connected. Hammerson’s portfolio offers significant opportunities to unlock this value over the mid to long term”.
The latest appointment comes as Hammerson continues to find trading conditions “challenging” as it battles to rebuild pandemic-induced losses. Enforced property closures resulted in lower rent collections over the last 12 months.
The Bullring, Brent Cross and Bicester malls owner is preparing to sell all seven of its UK retail parks to Canadian private equity firm Brookfield for around £350 million and, last year, the company disposed of its 50% stake in Europe's Via Outlets.
However, last week Hammerson said initial footfall since the 12 April reopening in Britain has been “encouraging” and “competitive with pre-pandemic levels” with around 90% of its operators currently able to trade.
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