Hammerson and British Land continue to struggle to collect rents
Daily MailThe future of two of Britain's biggest shopping centre owners look grim as they continue to struggle to collect rents from retailers hammered by the coronavirus crisis. Bullring owner Hammerson said it collected just 16 per cent of third quarter rents, while British Land collected only 36 per cent of rents from retail outlets. Bullring owner Hammerson said it collected just 16 per cent of third quarter rents Hammerson said it is 'confident' that collection rates will continue to improve 'materially' as they come to more agreements with stores. British Land, the owner of Meadowhall in Sheffield and office buildings in London, also said it expected rent collection rates to improve over the coming weeks as they continued to find agreements with tenants. The group also said 64 per cent, or nearly 900, of stores across its sites in England are now open and have seen sales surge 91 per cent over the first week of reopening.
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