Belfast Telegraph

Shopping centre owner is defying downturn

Shopping centre owner Hammerson has said its sites were defying the downturn after a rise in footfall and below-average vacancy rates.

The group, whose portfolio includes part-ownership of Brent Cross in London, the Bullring in Birmingham and Reading's Oracle centre, said the wave of retail administrations was having "little impact" on its business. Its retail vacancy rate is below 3%, when the market average is 12%.