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Hammerson waits for post-Covid boost

Hammerson finally gets some breathing space, but it is hard to see what it will do with its discounted retail estate
Hammerson waits for post-Covid boost

 

  • Ay long-term trend away from trophy retail assets
  • Some stabilisation in net rental income

It is fair to say that prior to the pandemic, Hammerson (HMSO) had a lot of questions hanging over its portfolio of increasingly obsolete and rapidly emptying retail units. It is difficult to predict how the remaining value in the estate is going to be rescued after the pandemic hit has subsided – the overall impression remains that the past six months has merely accelerated a very long-term trend away from trophy retail assets. Investors did see the return of a small dividend, if only to allow the company to maintain its REIT status.

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