Rising confidence helps boost demand at Hammerson’s malls
SHARES in Hammerson climbed three per cent yesterday after the landlord hiked its dividend and said growing consumer confidence was sending more retailers flocking to its shopping centres.
The owner of Brent Cross shopping centre said rental income rose by 2.1 per cent last year and that occupancy was now at 97.7 per cent thanks to growing demand.
“While retail sales have not rebounded strongly overall business confidence is leading retailers to increase their requirements for space,” Hammerson chief executive David Atkins said. “The recovery is also drawing international retailers into UK as well as more tourists, which especially benefits our value retail business,” he added.
The group owns a stake in the designer outlets specialist Value Retail, the owner of Bicester Village which is one of the most popular shopping destinations outside of London for foreign tourists.
Hammerson, which is also a major developer in France, said its vast Les Terrasses du Port mall development in Marseille was now 93 per cent let and on track to open in May.
Its net asset value per share rose to £5.73 in 2013, up from £5.42 the previous year and it also upped its final dividend by eight per cent.