Westquay owner Hammerson collects less than half the rent

Westquay Shopping Centre.
THE owner of Southampton’s Westquay has collected less than half its second quarter rent despite retail restrictions easing.
Hammerson, whose property portfolio also includes the Birmingham Bullring, London’s Brent Cross and Bicester Village, said it had received 48 per cent of second quarter rent due in the UK as market conditions remained “challenging”.
Across the whole group, rent received stood at 40 per cent, with £27million still outstanding.
But Hammerson, which last week revealed talks over a potential deal to sell its portfolio of UK retail parks, said a rise in shopper numbers across England was encouraging since the reopening of non-essential retail on April 12.

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