Dundrum Town Centre Co-Owner Delivers Strong Leasing Results
Ireland delivered a 'strong leasing performance' during the first three months of the year for Dundrum Town Centre co-owner Hammerson.
The property giant said its Irish portfolio of assets increased by 1.2% at the end of March, since the end of valued at £1.096 billion (€1.25 billion), reports Irish Independent.
Hammerson also co-owns the Ilac Centre and the Pavilion Shopping Centre in Swords.
The valuation figure reportedly doesn't include Kildare Village which owner, manager and developer of retail destinations in Europe owns 41% of.
Dublin Central Scheme
The UK-based company is reportedly planning a major development called the Dublin Central scheme across a six-acre site stretches from Upper O'Connell Street to Parnell Street, and Moore Street and Henry Street.
Hammerson has described it as an "outstanding European city centre development site".
"Our strategy and the positioning of our portfolio continue to deliver a strong operational performance," said CEO David Atkins.
"Our attractive high-growth markets of premium outlets and Ireland are driving valuation growth and we are on track with our disposal programme."
The company posted an income at its Irish properties to £34.8 million last year.
Its like-for-like net rental income growth was 7.4% during the year, a performance Hammerson said 'was primarily driven by rent reviews and new lettings at Dundrum Town Centre'.
The companies portfolio includes investments in 22 prime shopping centres in the UK, Ireland and France, 15 convenient retail parks in the UK and 20 premium outlets across Europe.
© 2018 - Checkout Magazine by Donna Ahern