Hammerson (HMSO) releases full-year figures on Monday, and a trading update last November suggests the retail landlord is set to deliver another bumper performance. Total rent from new lettings in the five months to November grew by 37 per cent year on year, while long-term leases were struck 9 per cent above previous estimates of rental value. Yet another sign of strong tenant demand is the occupancy rate of 96.7 per cent.
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The group has also been busy acquiring new assets, funded by a £399m share placing in September. Around £180m of this was used to buy the 40 per cent stake Hammerson did not already own in the Highcross shopping centre in Leicester. The price valued the mall a shade below the half-year valuation.
