Unibail-Rodamco-Westfield acquires outstanding share of Croydon Partnership from Hammerson
Paris, Amsterdam, April 25, 2023
Press release
Unibail-Rodamco-Westfield acquires outstanding share of Croydon Partnership from Hammerson
Unibail-Rodamco-Westfield (“URW”) has completed the acquisition of Hammerson’s 50% stake in the Croydon Partnership, a 10 hectare parcel which includes the Whitgift and Centrale shopping centres as well as high street retail frontage, office blocks and multi-storey car parks in the heart of the designated GLA Opportunity Area in South London.
Jean-Marie Tritant, Chief Executive Officer, Unibail-Rodamco-Westfield said: “Urban regeneration projects are at the heart of URW’s purpose to create sustainable places that reinvent being together, and we are very excited about what can be achieved in Croydon. With our full ownership of the property, it allows URW to work in partnership with the Mayor of Croydon, the Greater London Authority and other vital local stakeholders on a vision and options that support the wider transformation of the area.”
Jason Perry, Mayor of Croydon said: “The regeneration of Croydon town centre remains a top priority and I have been working closely with businesses and partners to bring forward the redevelopment of the Whitgift Centre and wider regeneration of the town centre. We welcome the agreement that has been reached by URW as an important step in progressing this. We look forward to working with them as they develop a new masterplan in 2023, which will inform a new, revised application for the town centre that will meet the future needs of our community.
I have reconvened the Mayor’s Town Centre Advisory Board, which is working with key partners to drive forward the regeneration, and we look forward to seeing plans progress.”
The Croydon project is fully aligned with the Group’s strategy of unlocking mixed-use development opportunities embedded in its portfolio. It also builds on the success of its transformational UK regeneration projects in both White City and Stratford.
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For further information please contact:
Investor Relations
Alex Estruch
VP, Chief of Staff to the CEO
+1 (424) 303-1948
Media Relations
Global:
Cornelia Schnepf – FinElk
8
UK:
Ciara Solmi – URW
+44 779 511 6524
France:
Sonia Fellmann – PLEAD
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About Unibail-Rodamco-Westfield
Unibail-Rodamco-Westfield is an owner, developer and operator of sustainable, high-quality real estate assets in the most dynamic cities in Europe and the United States.
The Group operates 78 shopping centres in 12 countries, including 43 which carry the iconic Westfield brand. These centres attract over 900 million visits annually and provide a unique platform for retailers and brands to connect with consumers. URW also has a portfolio of high-quality offices, 10 convention and exhibition venues in Paris, and a €3 Bn development pipeline of mainly mixed-use assets. Currently, its €52 Bn portfolio is 87% in retail, 6% in offices, 5% in convention and exhibition venues, and 2% in services (as at December 31, 2022).
URW is a committed partner to major cities on urban regeneration projects, through both mixed-use development and the retrofitting of buildings to industry-leading sustainability standards. These commitments are enhanced by the Group’s Better Places 2030 agenda, which strives to make a positive environmental, social and economic impact on the cities and communities where URW operates.
URW’s stapled shares are listed on Euronext Amsterdam and Euronext Paris (Ticker: URW), with a secondary listing in Australia through Chess Depositary Interests. The Group benefits from a BBB+ rating from Standard & Poor’s and from a Baa2 rating from Moody’s.
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