Hammerson cheers 60% footfall rise, as shoppers hit the retail landlord’s sites

The number of shoppers hitting Hammerson’s sites in England has jumped 60% so far this week, in a well-needed boost for the retail landlord.

The footfall rise for the FTSE 250 firm, which is a joint owner of the Brent Cross shopping centre, is up from the equivalent week when stores reopened from the first lockdown in June 2020.

Mark Bourgeois, managing director UK & Ireland at Hammerson, pointed to consumers feeling safer as vaccinations roll out, and added: “I think there is more cash in peoples pockets and they are feeling perhaps more confident to go and spend.”

But he also told the BBC Radio 4’s Today programme that rents in the UK will reduce from the peak by about 30%.

The company last year saw rental income hit as numerous occupiers had to temporarily close shops.

Data from research group Springboard shows shopper numbers in central London between Monday and 5pm yesterday more than doubled, up 124.6% from the same period a week earlier when most shops and restaurants were closed, except for click and collect or takeaways.

While the figure is still significantly lower than pre-pandemic, down 61.9% from the same period in 2019, it is more than five times higher than a year earlier when the first lockdown was in place.

Retailers in the City and West End are still missing out on much footfall from office workers and tourists as travel restrictions remain in place.

However, a number of retailers are anticipating busy trading on the first Saturday shopping day since stores reopened on April 12 from the latest lockdown.