Listed UK retail REIT Hammerson reported a 0.6% rise in UK footfall in the first quarter of 2014, but saw a drop of around 3% across its French assets.
Listed UK retail REIT Hammerson reported a 0.6% rise in UK footfall in the first quarter of 2014, but saw a drop of around 3% across its French assets.
The firm has a portfolio of more than 50 malls, retail parks and outlet villages across the UK and France, with a combined value of more than €6 bn.
The differing markets on either side of the Channel were also reflected in rents. In the UK, Hammerson struck rent deals 8% above estimated rental value (ERV), whereas in France rents were just 1% over ERV.
‘Economic recovery, particularly in the UK, is generating confidence in our consumer markets,’ said chief executive David Atkins. ‘We have seen improving leasing demand over the period, and have struck deals at good levels in both the UK and France.’
