Institutional landlord Hammerson has created a new executive role to drive forward its City Quarters strategy, which will look to diversify the group’s portfolio away from its reliance on retail.
The landlord has promoted its current retail director for Ireland Simon Betty to the newly created role of managing director City Quarters and developments.
Betty will be responsible for “driving the City Quarters vision, which will see the group move beyond pure retail, delivering vibrant mixed-use neighbourhoods surrounding the group’s existing flagship destinations”.
The City Quarters strategy has become a key component of Hammerson’s new strategy, as it seeks to buffer itself from declining rental incomes from struggling retailers, which in turn has been affecting portfolio values and covenants.
Betty has been with Hammerson since 2006 and has worked across developments, retail parks, investor relations and group strategy, prior to his current role in Ireland.
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