Home / Knowledge / News / Apparel/Garments / Retail property firm Hammerson develops forecasting tool
Retail property firm Hammerson develops forecasting tool
24
Sep '13
Hammerson launches report on the true value of shopping centres and unveils new forecasting software that will aid employment opportunities and the design of new centres.

Hammerson has for the first time undertaken a major piece of research to quantify the long term economic and socio-economic impacts of its shopping centres.

Taking data from nine of the UK’s top shopping centres, Hammerson is the first retail property company to undertake such an extensive evaluation of its centres and examines four key areas:

1.     Economic value generated by shopping centres
2.     Benefits to local and central government
3.     Economic benefits to wider communities
4.     Impact on quality of life for individuals

Key Findings

- 31,000 people are currently employed in Hammerson centres with a combined annual wage bill of £421m

- 37% of jobs created by a new centre go to those previously unemployed and 12% to NEETS

- £91m in income tax and national insurance contributions generated by employment through Hammerson centres

- £96m is generated through business rates

As part of its research, Hammerson has also developed a forecasting tool, which interrogates 50 sets of data to understand the future impacts of its retail developments, from the construction stage through to opening. The new tool will play an integral part in assisting Hammerson to create the best possible schemes and employment opportunities.

David Atkins, Hammerson Chief Executive, said: “We know that the retail sector is undergoing major change and this research reaffirms the importance of retail in the UK economy. By examining Bullring, which has traded for more than 10 years, we now have a fuller picture of a city centre retail environment.

"One of the big things to take away from the report is, it’s not a case of the high street or the shopping centre, both can successfully co-exist as long as they remain relevant to the consumer.“

“The real significance of this project is the potential of the modelling tool.  This will force us to challenge how we deliver our future retail developments and how we work with our retailers and local authorities to create the best schemes and employment opportunities.” 

The report includes comments on the findings from industry figures including Jeremy Collins, from leading department store John Lewis, Stewart Murray from the GLA and Jane Rexworthy from the National Skills Academy for Retail.

John Lewis Property Director Jeremy Collins said: "This research shines a light on the economic benefits of shopping centres and the benefits they bring to the wider community. Retail is a vibrant industry which offers communities real opportunities for growth. At John Lewis we are recruiting over 2,000 new temporary Partners in the run up to Christmas this year in our shops, distribution and call centres across the country."

Hammerson owns 12 shopping centres across the UK and nine in France, and has delivered major regeneration schemes including Bullring in Birmingham and WestQuay in Southampton. Over 250 million consumers visit Hammerson centres a year.

Click here to read full report

Hammerson


Must ReadView All

Global economic upswing became broader & stronger: IMF

Textiles | On 19th Apr 2018

Global economic upswing became broader & stronger: IMF

The global economic upswing that began around mid-2016 has become...

Courtesy: ITMA

Textiles | On 19th Apr 2018

ITMA 2019 expanding space due to overwhelming response

Due to overwhelming response, the exhibition space has been increased ...

BIDA’s Europe trip to showcase a different Bangladesh

Apparel/Garments | On 19th Apr 2018

BIDA’s Europe trip to showcase a different Bangladesh

The Bangladesh Investment Development Authority (BIDA) is taking a...

Interviews View All

Md Hanifur Rahman
Aman Group

The level of understanding the job role and organisational requirements...

Deepak Jain
Baggout

We are using Facebook and Instagram to promote ourselves

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


April 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.9%
No
12.6%
Skip
17.5%

Total Votes: 103

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.1%
No
29.1%
Skip
7.8%

Total Votes: 103

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.4%
No
8.7%
Skip
3.9%

Total Votes: 103

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
7.8%
Skip
9.7%

Total Votes: 103


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search