Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We use cookies to personalise your experience; learn more in our Privacy and Cookie Policy. You can opt out of some cookies by adjusting your browser settings; see the cookie policy for details. By using this site, you agree to our use of cookies.

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.”  

 

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.