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12 March 2021 | 14:18pm StockMarketWire.com - Shopping centre owner Hammerson wrote down the value of its property portfolio to £6.3 billion in 2020 as the company posted the largest decline in net rental income in its history and disposed of some assets. The company reported net rental income of £158 million in 2020, down 41% on a like-for-like basis excluding premium outlets, largely impacted by Covid-19 closures, tenant restructuring and higher provisions for bad debt and tenant incentives. Its portfolio value fell from £8.3 billion in 2019 to £6.3 billion in 2020, while group capital return was negative 20.9%. The group reported net proceeds from disposals totalling £328 million and said it will continue to target disposals . ....
By BFN News | 02:18 PM | Friday 12 March, 2021 Shopping centre owner Hammerson wrote down the value of its property portfolio to £6.3 billion in 2020 as the company posted the largest decline in net rental income in its history and disposed of some assets. The company reported net rental income of £158 million in 2020, down 41% on a like-for-like basis excluding premium outlets, largely impacted by Covid-19 closures, tenant restructuring and higher provisions for bad debt and tenant incentives. Its portfolio value fell from £8.3 billion in 2019 to £6.3 billion in 2020, while group capital return was negative 20.9%. The group reported net proceeds from disposals totalling £328 million and said it will continue to target disposals . ....
Hammerson s losses soar as virus hit property values Updated / Friday, 12 Mar 2021 08:50 Shopping centre operator Hammerson has given a formal warning about threats to its ability to continue as a going concern Shopping centre operator Hammerson has today posted a £1.7 billion loss for 2020 and gave a formal warning about threats to its ability to continue as a going concern. The warning came as the value of properties sank in the Covid-19 crisis and the company launched asset sales to bolster its finances. Shares in the company gained in initial deals after it said it had made £73m from the sale of the Brent South Shopping Park and its stakes in two French joint ventures. ....