What: Hammerson suspends granting rent concessions to tenants as activity picks up

Why it is important:  Cooperation with tenants has been the norm so far, however now that the economy is getting back to a semi-normal, business is back.

UK-based Hammerson has announced that it would stop granting rent concessions to tenants, now that activity picks up and that the UK government extends a ban on evictions until March 22.

Rent collection has improved, according to Hammerson, to 89% for 2020, and currently at 68% for first half of 2021.

Now that business is picking up, operators do not see the need to extend the support that has been the norm during the pandemic.

Mall Operator Hammerson Plans To Stop Giving Rent Concessions