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Hammerson collects just 41% of rent for Q4

Hammerson collects 37% of rent and suspends dividend

Hammerson has collected just 41% of rent due for the fourth quarter of 2020, as the retail sector continues to struggle.

Broken down into countries, the group has received 38% from its UK portfolio, 33% in Ireland and 51% in France. It said the collection levels for this quarter are ahead of the same point following the third quarter rent payment day.

For the second quarter of the year Hammerson has now collected 59% of the £69.7m billed, with £7.4m deferred and £25.6m still outstanding. The third quarter collection levels are at a similar rate of 59%. £1.2m has been deferred and £28.0m is still outstanding.

For the full year to date, the group has collected 66% of the £268m rent due (Q1 collection at 97%). £8.6m has been deferred and £85.4m is still outstanding (£11.9m of which has been waived).

VIA disposal

The €301m (£274m) sale of its 50% stake in VIA Outlets to APG is on track to complete in Q4 this year after the deal received the necessary clearances from the relevant competition authorities.

HMSO : Hammerson collects just 41% of rent for Q4

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