Only a third of Hammerson’s tenants paid Q4 rent

Hammerson has released a statement showing its rent collection figures from its tenants, which have revealed that only 38 per cent of rent has been collected for the fourth quarter of 2020 in the UK, and only 33 per cent in Ireland.

In the statement, Hammerson said that despite the extension of the rent moratorium in the UK, it expects Q3 and Q4 rent collection rates to ‘continue to improve’, and for occupiers to pay the agreed rent for these periods, even if discussions regarding Q2 are ongoing.

A spokesperson said: “Since the onset of the pandemic, Hammerson has recognised the need to support brands, particularly while destinations were closed. We have worked hard to reach agreements on rent during the closure period that are fair and reasonable.  This has involved a combination of rent deferrals, moving to monthly payments, and in some cases waivers, particularly for smaller and independent brands.”

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