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'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

Hammerson boss makes fresh call for business rates review

Hammerson chief executive David Atkins has underlined the need for an overhaul of business rates, following results which showed an increase in pre-tax profits and sales.

The boss of the retail landlord pointed out to The Telegraph that retailers represent 5% of the UK’s economic value but must make 23% of all business rate payments.

Hammerson, which owns Brent Cross shopping centre in London and the Bullring in Birmingham, said that sales increased by 2.4% in its shopping centres last year, despite price deflation in categories including women’s clothing and a 1.3% decline in footfall.

He said shop owners are unlikely to increase their prices amid fierce competition from online retailers and discounting associated with promotions such as Black Friday.

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.