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Hammerson sees portfolio value rise in second half
The value of Hammerson's UK commercial property portfolio rose during the second half of last year.
In its full-year results for the period to December 31st 2009, the real estate firm said its buildings climbed by 6% from July onwards.
However, their worth dropped by 9% over the course of the full year, with occupancy at the year-end totalling 95% - unchanged from December 2008.
Vacancies increased during the first half, but the company said it made "good progress" during the later months in order to recover.
"Recently there has been a recovery in property markets, supported by strong investor demand and the policy of central banks supporting financial markets," observed chairman John Nelson.
He added that the business will be taking "a prudent approach" to financing its business property acquisitions, as the outlook for the economy is still "uncertain".
The news prompted a small rise in Hammerson's share price, which was up 1p to 391.4p at 09:30 GMT.
In its full-year results for the period to December 31st 2009, the real estate firm said its buildings climbed by 6% from July onwards.
However, their worth dropped by 9% over the course of the full year, with occupancy at the year-end totalling 95% - unchanged from December 2008.
Vacancies increased during the first half, but the company said it made "good progress" during the later months in order to recover.
"Recently there has been a recovery in property markets, supported by strong investor demand and the policy of central banks supporting financial markets," observed chairman John Nelson.
He added that the business will be taking "a prudent approach" to financing its business property acquisitions, as the outlook for the economy is still "uncertain".
The news prompted a small rise in Hammerson's share price, which was up 1p to 391.4p at 09:30 GMT.
Mon, 22nd Feb 2010