Hammerson PLC (LON:HMSO), the retail property specialist, said trading continues to be challenging with a new round of coronavirus (COVID-19) restrictions reversing an improvement in footfall in the run-up to Christmas.
National lockdowns are in place in Ireland and the UK, with significant restrictions in place across France and continental Europe, Hammerson said in a statement,
In the UK currently, only a quarter of the company’s tenants are open either offering essential retail, Click & Collect, and/or takeaway and delivery services.
Hammerson’s destinations in France are now subject to a 6pm national curfew, primarily impacting food, drink and leisure brands.
Rent collections also remain difficult, Hammerson said, with 41% received for the first quarter of 2021 of which Ireland is the worst performer at 31%.
Hammerson raised £829mln through a share issue and sale of its VIA Outlets in November, which it has used to repay some borrowings.
Undrawn liquidity is £1.25bn plus substantial cash holdings, Hammerson added.