Shopping centre owner Hammerson collects just 41% of September rents

A deserted Brent Cross shopping centre is seen in London, as the spread of the coronavirus disease (COVID-19) continues, in London, Britain, March 23, 2020. REUTERS/Paul Childs
Hammerson owns shopping centres such as Brent Cross in London. Photo: Paul Childs/Reuters

Hammerson (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.

Hammerson said it had collected 38% of September rents in the UK, 33% of rents due in Ireland, and 51% in France. The low collection rates come despite all its shopping centres reopening and 94% of its retail tenants reopening — 99% are open in France.

The company said the shortfall was due to “a combination of rent deferrals, moving to monthly payments, and in some cases waivers, particularly for smaller and independent brands.”

Hammerson pointed out that the fourth quarter rent figure compared favourably to its third quarter performance. The company managed to collect just 16% of third quarter dues on its first attempt.

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The company has now collected 59% of third quarter rents and 66% of all rent due so far this year.

However, rivals are faring better. Capital & Regional (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.

“Feedback from our retailers indicates that average transaction values are registering higher than the comparable period last year, with shopper visits being purpose driven,” said Lawrence Hutchings, chief executive of Capital & Regional, in a statement on Thursday.

Shares in Hammerson fell 3%, while Capital & Regional rose 15%.

Capital & Regional shares jumped on the update. Photo: Yahoo Finance UKCapital & Regional shares jumped on the update. Photo: Yahoo Finance UK
Capital & Regional shares jumped on the update. Photo: Yahoo Finance UK

Shares in Hammerson have fallen almost 90% so far this year as national lockdowns have devastated the in-person retail sector. Rival shopping centre operator Intu, which owned the Trafford Centre in Manchester, collapsed into administration in June.

Land Securities (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.

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How To Manage A Shopping Centre Successfully (2)

Whenever my husband and I visit another country, one thing on our to-do-list is a little shopping, and by slightly, I mean so much. Although on-line shopping is 24/7 available, you cannot feel or contact gadgets somewhat can simply see what’s current on a webpage whereas in brick and mortar stores you possibly can see many issues at a look and buy after you are feeling or contact the product.

But as you said, on-line shopping is slowly making shops disappear as a result of many individuals, even those that can drive or walk, discover it easier to simply store online. If you live in a big city, (New York) mystery shopping corporations can be found in the cellphone book. Charge less than the mainstream secret shopping corporations, present excellent high quality reviews and you should have jobs in no time.

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There are various price range lodges near Pratunam so you will not even must stroll to far to get there and Pratunam is an ideal location for shopping in Bangkok as a result of it is close to Siam and Chidlom, an area stuffed with excessive end shopping malls.

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How To Manage A Shopping Centre Successfully

Most persons are struggling financially with the fixed rise of prices, unemployment and lack of jobs. So, they avoid shopping for saving their purses and ship their women and youngsters to shopping. You can use a shopping directory that accommodates categorized hyperlinks to stores from a selected region or from everywhere in the world, together with critiques from other customers. For the identical charge as our previous grocery retailer charged us for supply, Metro would not simply deliver groceries to our door, however do my grocery shopping for me based on my alternatives on their web site. When shopping for erotic lingerie along with your partner, both of you have to have open minds about what the other may be eager about. You could not have thought-about sheer child doll lingerie – but he has. With nearly every factor under the sun, ebay is the perfect portal for shopping in India.

I will be splitting the travelogue entries into two so this entry will cover more on SHOPPING PLACES whereas the other will probably be on FOOD I will try to cover as a lot as I can based on my expertise so this will not just be based mostly on the current journey.

You can simply walk from Chit Lom BTS station to National Stadium BTS Station, while dropping by every of the shopping malls related to the Sky Walk. There are many stores here that promote anime products, toys, manga, , dolls and different otaku merchandise, Mandarake is the most well-liked store on this shopping arcade.

If you are shopping for your favorite woman, make sure you know precisely what size she wears. In any successful and active shopping centre, it is reasonable to assume that up to 20 to 25% of the tenancy combine can be regularly formed and repositioned during every interval of 12 months. So far, I have managed to maintain the costs pretty near what my shopping price range was already, so I thought I would share how I try this. Even for those who do not buy, shopping for exotic lingerie together may give you plenty of ideas and produce some spice to your sex life! Shopping at Pratunam Market is a great various to shopping in Chatuchack Weekend Market because Pratunam is open 7 days per week. There are a many extra tremendous shopping malls throughout Bangkok, however they don’t seem to be inside the metropolis nor within attain of the BTS and MRT prepare systems.

Mystery shopping is a phrase which refers back to the procedure for assessing the general efficiency and is an evaluation of an employee from the viewpoint of an on a regular basis informed shopper. From books, to cosmetics, clothes and accessories to name a number of, shopping online is the answer to the 21st century. I caught this receipt in my diary.. as I even have been doing because the start of the year to maintain monitor of my shopping.. but I should have checked it …