Hammerson: rental income up 4.3%

By

Matthieu Guinebault

Published
Feb 15, 2016

The UK retail property developer reported generating GBP318.6 million in rental income in 2015. The growth was 4.3%, or 2.3% in like-for-like terms. As much as 64,900 m² in retail area were made available in the course of the year, and 400 leases were signed, for a total retail area of 136,000 m². The group also noted in passing an 11% rise in sales by its outlet retail tenants.

"Thanks to a clear refocusing on our strategic priorities, our profits were able to rise by 13% year-on-year, allowing us to achieve an average annual growth rate of 8% over 5 years," enthused David Atkins, the developer's Chief Executive.  "We carry on reinvesting our capital in optimally located assets, in order to create value. As for future prospects, and despite the fact that the economic and political situation is undeniably more challenging, we remain convinced that our business will continue to generate both constant and attractive returns for our shareholders."

Hammerson currently claims a 306,600 m² retail area portfolio, to which another 160,500 m² in areas under development must be added. The entire Hammerson network reportedly attracts more than a million retail visitors per year.