Wednesday, 02 October 2019 16:47

Disposal of Abbotsinch Retail Park, Paisley

Hammerson plc has exchanged contracts for the sale of Abbotsinch Retail Park, Paisley to Ashby Capital for £67m. The sale price represents a net initial yield of 7.8% and is 3% below book value as at 30 June 2019.   

Slight improvement in transaction volumes alongside mortgage advances.

Vukile Property Fund today announced that its listed Spanish subsidiary, Castellana Properties SOCIMI SA, has acquired the high-quality 30,000sqm Puerta Europa shopping centre in Algeciras, Cadiz, Spain.

Hammerson PLC-Unaudited 2019 half-year results.

Credit and mortgage balances in the first half of 2019, with divergent home loan repayment patterns evident across household income categories up to mid-2019.

The recent ruling by the Supreme Court of Appeal where the body corporate of Gardens Lodge in Cape Town was found to have charged a “patently exorbitant” interest rate on levies that were outstanding.

The value of outstanding credit balances in the South African household sector increased by 5,9% year-on-year (y/y) to R1 653,3 billion up to the end of February 2019 (3,9% y/y at end-February 2018), with growth in total credit balances as well as secured and unsecured credit balances remaining unchanged from end-January. 

Following various announcements made by Edcon over recent months in relation to the recapitalisation of the business, the Group has advanced the process sufficiently to provide a further update to all stakeholders. 

The value of outstanding credit balances in the South African household sector increased by 5,7% to R1 630,2 billion in 2018 after rising by 3,8% in 2017.

After falling to 29 in 2Q2018, the FNB/BER Building Confidence Index was unchanged in 3Q2018.

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