Hammerson collects less than half of rent due as new finance boss joins

Hammerson Rita-Rose Gagné
Hammerson said the UK’s reopening had shown encouraging signs
// Hammerson collects less than half of net rental income due in the second quarter
// 40% of rent had been received for the three months to March 5
// The shopping centre owner has hired Himanshu Raja as finance chief

Hammerson has collected less than half of net rental income due in the second quarter of the financial year and has announced the appointment of a new chief financial officer.

At group level, 40 per cent of rent had been received for the three months to March 5, with the UK collecting 48 per cent, France 23 per cent, and Ireland 34 per cent.

An aggregate 46 per cent of first half rent has been received.


READ MORE: Hammerson to slash rents as it “shares the pain” with retailers


The shopping centre owner has hired Himanshu Raja as chief financial officer. He will succeed James Lenton who resigned in January.

Raja joins from Countrywide where he served as chief financial officer until its sale last month.

“Himanshu is an experienced chief financial officer who brings a blend of strong financial, strategic and leadership qualities,” Hammerson chief executive Rita-Rose Gagné said.

“On behalf of the board, and all colleagues I look forward to welcoming him to the Company and benefitting from his insight and experience.”

Raja said: “I am excited to be joining Hammerson during this period of unprecedented change in the sector and look forward to supporting Rita-Rose as she leads on the strategic review of the business to create value going forwards.”

Hammerson said the UK’s reopening had shown encouraging signs with 90 per cent of operators able to trade and footfall “competitive with pre-pandemic levels”.

The company said it continues to work with its tenants to focus on improving collection rates on agreed rents and that it expects collection rates for the current year, as well has the year just passed, to improve as restrictions are eased.

Click here to sign up to Retail Gazette’s free daily email newsletter

LEAVE A REPLY

Please enter your comment!
Please enter your name here