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Hammerson collects 37% of quarterly rents

As of the end of last week, shopping centre owner Hammerson received 37% of UK rent billed for the second quarter ending 25 March. 

When adjusted to account for rent deferrals, payments switched to a monthly basis and bills with nominal propositions waved, Hammerson received 57% of rent due.

The landlord, whose centres include Birmingham’s Bullring and London’s Brent Cross, said it expects both figures to increase “as temporary agreements are implemented and further cash is collected”. 

It has suspended its final dividend and its previous guidance on 2020. 

Hammerson’s centres remain open only for access to essential retail as defined by the UK government. 

The landlord said its reviewing requests for rent deferrals, monthly payments and waivers ”on a case-by-case basis, taking into account the business model and risk profile of the occupier, alongside the aid made available by the relevant governments”. 

It added: ”We believe we should support our occupiers, particularly smaller and independent brands that are less resilient to the closure of their space in our centres.”  


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