Improving economy lifts demand at Hammerson’s shopping malls

Kasmira Jefford
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HAMMERSON, the Anglo-French shopping centre landlord, said yesterday that an improving UK economy had helped to drive demand for its sites.

The developer signed UK leases at eight per cent above estimated rental value in the period from 1 January to 22 April, and by one per cent in France.

Footfall across its UK sites edged up 0.6 per cent while tenant sales increased by 0.5 per cent. Meanwhile overall occupancy remained steady at 96.6 per cent.

“Economic recovery, particularly in the UK, is generating confidence in our consumer markets. We have seen improving leasing demand over the period, and have struck deals at good levels in both the UK and France,” chief executive David Atkins said.

Hammerson’s vast Les Terrasses du Port mall development in Marseille is now 96 per cent let to retailers including Ted Baker and is on track to open on 24 May.