Tenancy rates drop at Hammerson | Interactive Investor
Property investment giant Hammerson (HMSO) saw occupancy rates drop below its 97% target in the first quarter amid challenging economic times for tenants.
Occupancy dropped from 97.3% at the end of December to 96.7% at the end of March, the FTSE 100-listed firm said.
"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," said chief executive David Atkins.
The company's interim management statement said sales at its shopping centres continued to outperform national benchmarks in the first quarter.
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