The value of Hammerson’s portfolio of shopping centres is stabilising after five years of sharp declines, The Times has reported.
The market value of its malls and outlets, which include the Bullring in Birmingham and Cabot Circus in Bristol, has more than halved since 2017, including a 21 per cent decrease in 2020.
Its portfolio fell in value by another 7.9 per cent last year, but the fall slowed markedly in the second half. Between July and December the value of its malls declined by £104 million, compared with a fall of £353 million in the first half.
Hammerson’s portfolio is now worth £5.4 billion, having been valued at more than £8 billion before the pandemic struck.
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