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Report

Hammerson secures 75 million pounds of government support

By Huw Hughes

Jul 28, 2020

British property group Hammerson has turned to government support as it grapples with the impact of Covid-19.

The company, which owns Bullring shopping centre in Birmingham and Brent Cross centre in London, has issued 75 million pounds of debt under the government’s Covid corporate financing facility (CCFF) this month, The Sunday Times reports.

It comes after the company announced earlier this month it had collected just 13 percent of third-quarter rent for its UK properties.

Shopping destinations have been hit hard in recent months by store closures. In June, British shopping centre operator Intu collapsed into administration following failed crunch talks with its lenders.

Photo credit: Grand Central, Hammerson