Shopping centre owner Hammerson collects just 41% of September rents

HMSO.L), the owner of shopping centres such as Brent Cross in London and Bicester Village in Oxfordshire, said on Thursday it had managed to collect just 41% of rents due for the fourth quarter.” data-reactid=”32″>Hammerson (HMSO.L), the operator of procuring centres such as Brent Cross in London and Bicester Village in Oxfordshire, explained on Thursday it experienced managed to collect just 41% of rents thanks for the fourth quarter.

Hammerson said it experienced collected 38% of September rents in the British isles, 33% of rents owing in Eire, and 51% in France. The low collection costs appear despite all its buying centres reopening and 94% of its retail tenants reopening — 99% are open up in France.

The business claimed the shortfall was due to “a mixture of lease deferrals, moving to month to month payments, and in some conditions waivers, particularly for scaled-down and unbiased models.”

collect just 16% of third quarter dues on its first attempt.” data-reactid=”35″>Hammerson pointed out that the fourth quarter rent figure in contrast favourably to its third quarter performance. The business managed to accumulate just 16% of 3rd quarter dues on its first endeavor.

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The business has now gathered 59% of third quarter rents and 66% of all lease because of so much this yr.

CAL.L), which owns seven shopping centres mainly under “The Mall” brand, said on Thursday it had collected 51% of fourth quarter rents. British Land (BLND.L) said last week it had collected 50% of September retail rents.” data-reactid=”42″>Having said that, rivals are faring better. Capital & Regional (CAL.L), which owns 7 shopping centres largely below “The Mall” brand name, explained on Thursday it experienced gathered 51% of fourth quarter rents. British Land (BLND.L) claimed final 7 days it experienced collected 50% of September retail rents.

“Feedback from our shops implies that average transaction values are registering bigger than the equivalent period of time past calendar year, with shopper visits being reason driven,” said Lawrence Hutchings, main govt of Money & Regional, in a statement on Thursday.

Shares in Hammerson fell 3%, even though Money & Regional rose 15%.

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collapsed into administration in June.” data-reactid=”65″>Shares in Hammerson have fallen practically 90% so significantly this calendar year as national lockdowns have devastated the in-person retail sector. Rival searching centre operator Intu, which owned the Trafford Centre in Manchester, collapsed into administration in June.

LAND.L), which owns both offices and retail space, said last week it had managed to collect just 33% of September’s quarterly rents from its retail tenants.” data-reactid=”66″>Land Securities (LAND.L), which owns the two offices and retail area, said very last 7 days it had managed to gather just 33% of September’s quarterly rents from its retail tenants.