Hammerson sees strong momentum continue in Q1 results - Indoors Beauty

Hammerson sees strong momentum continue in Q1 results

Hammerson sees strong momentum continue in Q1 results

Hammerson, the property growth and funding firm, has shared a buying and selling replace for the three months ending 31 March 2023, revealing like-for-like gross rental revenue grew 5%.

Reflecting strong leasing and commercialisation efficiency, like-for-like internet rental revenue was up +5% benefiting from stable collections. Gross administration prices decreased 13% year-on-year.

Hammerson noticed continued momentum on leasing with 61 leases signed year-to-date, representing £9m of lease on a 100% foundation. Occupancy charges throughout its whole portfolio reached a powerful 95%.

Hammerson is presently the proprietor, operator and developer of a quantity buying locations, together with the Bullring & Grand Central in Birmingham, Highcross in Leicester, Union Square in Aberdeen, and Westquay in Southampton.

Overall footfall throughout locations in the UK was up +6% and up +13% in Ireland.

Rita-Rose Gagné, Chief Executive of Hammerson, mentioned: “We have maintained our concentrate on execution in the course of the first few months of the 12 months. We have a strong operational grip which is delivering high line development, with continued momentum in leasing and a strong pipeline. We have additional lowered prices, with extra to come back as we create a sustainable and agile platform.

“We have exited minority stakes in France and different non-core pursuits, bringing whole disposals because the begin of 2021 to over £840m, and a sharper concentrate on our core portfolio of metropolis centre property and land. We have additional strengthened the stability sheet and keep a disciplined strategy to capital allocation. Looking ahead, we’ve strong momentum and stay on monitor to return to money dividends as beforehand guided.”

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