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Hammerson to push forward with UK schemes
Hammerson is to push forward with its plans for a number of multi-million pound mixed-use developments across the UK after a "strong" 2010.
The developer currently has planning permission for the Bishops Place scheme in London, which is designed by Foster + Partners and will include hotel accommodation. Plans for the Watermark WestQuay scheme in Southampton have also been given the go ahead, which will include a hotel; a cinema; restaurants; and a park and public plaza.
Elsewhere, Hammerson has a development agreement with Sheffield City Council for the Sevenstone scheme - comprising 80,000sq m (861,000sq ft) of retail and leisure space. Outline planning consent has been renewed on the Eastgate Quarters development, Leeds, while the group has bought the SQY Ouest complex in Saint Quentin-en-Yvelines, France.
It comes as Hammerson reported an 11.2 per cent increase in adjusted profit before tax in the year ending 31 December 2010. Hammerson chair John Nelson said: "Looking forward, our financial flexibility and continued asset recycling will allow us to continue to take advantage of opportunities which we believe will arise in the coming period."
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