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Hammerson reports strong demand for retail property

Shopping centre operator Hammerson saw a 2.1% rise in like-for-like net rental income in 2013 as it experienced strong demand for high-quality retail property.

GENERAL MERCHANDISE

Hammerson reports strong demand for retail property

The group, which owns the Brent Cross Shopping Centre in London and the Bullring in Birmingham, said occupancy increased to 97.7% to exceed its benchmark of 97%. The amount of new space let to retailers rose by almost 25% on the previous year.

David Atkins, chief executive of Hammerson, said: “We have reported a good set of results in a year when we saw the beginning of economic and consumer recovery in the UK."

Hammerson, which also operates in France, is planning to open a major new shopping centre in Marseille later this year. Atkins said the economic picture in France was less “clear cut” than in the UK but added: "Personal debt levels remain low, providing the opportunity for a rebound in consumer spending when growth returns."

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