Hammerson says UK shopping centre sales have risen by 2.6%
Hammerson has reported that its shopping centre sales rose by 2.6% in the period 1 July to 9 November. However, sales in France dropped by 2.8%.
The company said consumer and occupier market conditions are improving in prime UK retail while remaining subdued but stable in France.
Hammerson chief executive David Atkins said: “Our investment activity during the period demonstrates our ambition to accelerate future growth which will be further enhanced by our extensive development pipeline where we have continued to make good progress. Earlier in the year we saw signs of improvement in the UK retail market and since then we have experienced further growth in retailer sales, tenant demand and rental values in our winning retail locations.”
He added: “In France, there is continued appetite from both consumers and retailers for outstanding retail destinations despite a more muted consumer backdrop.”
Hammerson also reported that there had been 37% growth in total rent from new group lettings and a 21% increase in the total area of lettings. During the period, the company acquired the remaining 40% stake in Highcross shopping centre in Leicester and a 10% stake in the Nice Etoile shopping centre in Nice.
