UK retail property group Hammerson released its pre-listing statement on Thursday, highlighting its recent success as a premium shopping centre owner as it looks to entice South African investors for when it lists on the JSE on September 1.Hammerson delivered a total property return of 2.9% in the six months to June. The company also said it made a 12.4% total property return for the year to December.Its portfolio delivered net rental income of £319m and adjusted profit of £211m in the year to December 31, and £168m and £113m the six months to June 30.The company, whose London listing gives it a market capitalisation of £4.54bn (R84.5bn), owns shopping centres across Western Europe. It will become the JSE’s largest listed property fund, overtaking UK and Spanish shopping centre owner Intu, which has a market cap of about R79bn.South African institutional investors maintain a high appetite for exposure to UK and European real estate. Over the past year, Hammerson’s shares have come t...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.