Hammerson PLC reports strong rebound in footfall as shops reopen

PLC () said it saw a strong recovery in footfall since 12 April, when its retail parks and shopping centres in England were allowed to reopen following the easing of Coronavirus (COVID-19) restrictions.

Around 90% of shops are now open and numbers are competitive with pre-pandemic levels, the property REIT said.

Across the last seven days, average footfall at what describes as its flagship destinations is running at 80% of the same week in 2019, with a 50% uptick on the first week of reopening in June when the first lockdown ended.

Ireland, Scotland and continental Europe are still subject to more stringent restrictions with 30% of Scottish shops open ahead of a full reopening on 26 April.

 In France, all non-essential retail is shut with a review of restrictions due on 3 May, but is not expecting trade to improve materially until the second half of 2021.

Footfall in Ireland has been 40% of pre-COVID-19 levels on average.

Rent collection has remained a struggle said the former FTSE 100 group, with only 40% of second-quarter rent received of which the UK is doing best at 48%.

In total, 46% of the first half’s rent due has been received.

Hammerson announced last week it was cutting retail rents by a third while confirming it had put its UK retail parks portfolio up for sale.