Hammerson shopping centres' sales rise

After being hit hard by recession doom and gloom, shopping centres seem to be back having a moment. Hammerson UK which owns Brent Cross shopping centre and Birmingham’s Bull Ring, and is credited with introducing the first covered shopping

centre in Europe, has announced that like for like shopping sales were up 1.5% year on year for the period between 1 January and 28 April.

Demand was still strong for quality retail space; 25 new leases were signed in the UK including Phase Eight and TM Lewin at The Oracle, Reading; Jaeger at Brent Cross; Swatch at WestQuay, Southampton; Primark and Jack & Jones at Queensgate, Peterborough; Maddie and Marks Footwear at Silverburn, Glasgow; and Josef Seibel at Highcross, Leicester. Furthermore, the company had submitted a planning application for one of the UK’s largest shopping centre developments at Eastgate Quarters, Leeds.

David Atkins, Chief Executive, said: “This has been an extremely active period where, in line with our strategy, we have enhanced the growth prospects of our portfolio through both acquisitions and progressing major developments." He continued: "Whilst the economic backdrop for consumers remains difficult, we are seeing the benefit of our focus on regionally dominant shopping centres and convenient retail parks, which continue to attract successful retailers.”