Hammerson feels heat as shoppers avoid Brent Cross
Monday 29 July 2013
Brent Cross shopping centre owner Hammerson was cursing the heatwave today despite rising rents and fuller occupancy in the first half of the year.
Hammerson saw rental income rise 2.5% while occupancy rose above its 97% target to 97.4% in the first six months of 2013, but sales at its centres wobbled in the first few weeks of July, chief executive David Atkins said.
“In the first few weeks of the very hot weather people wanted to go outside, have barbecues, go to the beach, rather than go shopping. Sales were down, but as the weather has settled down people have got used to it and we are seeing improvement in fashion as people go out to buy summer clothes,” he said.
Hammerson and its partners are gearing up to spend about £2 billion in the capital over the next five years. Its proposed extension of Brent Cross should attract 20 million visitors a year when completed, and the company will submit a joint planning application for a new shopping centre in Croydon with Australian giant Westfield in the autumn. “In terms of the really big capital plays it is London and the South East where the economy is stronger and where we have seen the retailer demand,” Atkins added.
Hammerson, which sold off its City offices to bolster its retail holdings, spent another £78 million on Value Retail, the owner of luxury designer outlets including Oxford’s Bicester village.
- 1 Is Gideon Levy the most hated man in Israel or just the most heroic?
- 2 Students offered grants if they tweet pro-Israeli propaganda
- 4 Satellite full of sexually experimental geckos adrift in space, Russia loses control of mission
MH17 crash: Investigators discover more human remains and 'huge section of plane'
Susan Sarandon on David Bowie romance: 'He's worth idolising'
Students offered grants if they tweet pro-Israeli propaganda
A day in the life of Vladimir Putin: The dictator in his labyrinth
Exclusive: Cameron’s Big Society in tatters as charity watchdog launches investigation into claims of Government funding misuse
The 'scroungers’ fight back: The welfare claimants battling to alter stereotypes
Arizona execution lasts two hours as killer Joseph Wood left 'snorting and gasping' for air
Malaysia Airlines MH17 crash: Ukrainian military jet was flying close to passenger plane before it was shot down, says Russian officer
Malaysia Airlines MH17 crash: Massive rise in sale of British arms to Russia
Malaysia Airlines MH17 crash: victims’ bodies bundled in black bags and loaded onto trains
John Barrowman praised for Commonwealth Games opening ceremony gay kiss
iJobs Money & Business
£600 - £650 per day: Orgtel: Conduct Risk Liaison Manager - Banking - London -...
£18000 - £23000 per annum + Comission: SThree: SThree, International Recruitme...
£280 - £300 per day + competitive: Orgtel: Test Analyst, Edinburgh, Credit Ris...
£20000 - £25000 per annum + OTE £40,000: SThree: SThree Group have been well e...