Hammerson has cut the value of its stake in Dundrum Town Centre by about €125mLast year was “tough and relentless” and there are “high levels of uncertainty” about what lies ahead as the pandemic continues, the chief executive of Dundrum Town Centre co-owner, Hammerson, has warned in its newly-published annual report. Hammerson owns 50pc of the Dundrum centre, as well as 50pc of the Ilac Centre in Dublin city, and half of the Pavilions shopping centre in the Dublin suburb of Swords. It also owns a large development area off O’Connell Street in Dublin, and 41pc of the Kildare Village outlet mall. Hammerson, whose CEO is Rita-Rose Gagné, has cut the value of its Irish assets by about €155m since the pandemic wreaked havoc with the retail sector. The value of Hammerson’s stake in the Dundrum Town Centre has fallen by about €125m last year to just over £1.2bn (€1.4bn).

Source: Irish Independent March 30, 2021 01:30 UTC