{"id":9200,"date":"2023-04-26T17:34:50","date_gmt":"2023-04-26T17:34:50","guid":{"rendered":"https:\/\/dmsretail.com\/RetailNews\/westfield-acquires-hammersons-croydon-jv-stake\/"},"modified":"2023-04-26T17:34:50","modified_gmt":"2023-04-26T17:34:50","slug":"westfield-acquires-hammersons-croydon-jv-stake","status":"publish","type":"post","link":"https:\/\/dmsretail.com\/RetailNews\/westfield-acquires-hammersons-croydon-jv-stake\/","title":{"rendered":"Westfield acquires Hammerson’s Croydon JV stake"},"content":{"rendered":"

\"Retail<\/a><\/p>
\n<\/p>\n

\n
\"Unibail-Rodamco-Westfield\"<\/div>\n
\/\/<\/span> Unibail-Rodamco-Westfield acquires the outstanding share of the Croydon shopping centre redevelopment<\/h6>\n
\/\/\u00a0<\/span>The deal puts an end to the JV with Hammerson, which it partnered with in 2013<\/h6>\n\n

Westfield owner Unibail-Rodamco-Westfield has acquired the remaining 50% stake of the Croydon shopping centre redevelopment from Hammerson.<\/p>\n

The deal puts an end to a decade-long joint venture of a \u00a31.4bn regeneration project involving Croydon\u2019s two main shopping centres: the Centrale Mall and The Whitgift Centre.<\/p>\n

The news comes as Hammerson has been steadily selling off its assets after coming under fire from shareholders over concerns about its struggling financial performance.<\/p>\n\n

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URW said the move was aligned with its strategy of unlocking mixed-use development opportunities and it hopes to build on the success of its regeneration projects in White City and Stratford.<\/p>\n

Chief executive Jean-Marie Tritant said: \u201cUrban regeneration projects are at the heart of URW\u2019s purpose to create sustainable places that reinvent being together, and we are very excited about what can be achieved in Croydon.<\/p>\n

\u201cWith 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.\u201d<\/p>\n

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\"Retail<\/a><\/p>
<\/p>\n","protected":false},"excerpt":{"rendered":"

\/\/ Unibail-Rodamco-Westfield acquires the outstanding share of the Croydon shopping centre redevelopment \/\/\u00a0The deal puts an end to the JV with Hammerson, which it partnered […]<\/p>\n","protected":false},"author":1,"featured_media":9201,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-9200","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-magazines"],"_links":{"self":[{"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/posts\/9200","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/comments?post=9200"}],"version-history":[{"count":0,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/posts\/9200\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/media\/9201"}],"wp:attachment":[{"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/media?parent=9200"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/categories?post=9200"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/tags?post=9200"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}