There has been some good news for the commercial property sector, with Hammesron Plc demonstrating that it is possible to be successful in the current commercial property market. The Anglo French commercial property organisation has announced that its share value has increased significantly during the first half of 2011.
Hammerson Plc, was formed back in 1942 as a company to invest in real estate by converting houses into apartments. It wasn’t until 1948 that Hammerson expanded into the commercial property market, since then the company has grown and grown with today’s vision statement for the company, saying: ‘[Our]vision is to be the best owner-manager and developer of retail and office property in the UK and France. We focus on prime regional shopping centers and out-of-town retail, while exploiting opportunities in the office sector.’
The company now appears to be performing exceptionally well, despite the current economic conditions which have thrust a dark cloud over the commercial property market. During the first six months of this year Hammerson Plc has seen a 5.1 per cent increase in its share value, with a single share now costing £5.20. Along with this net rental income is another area of the business that is performing strongly, with a rise of 3.9 per cent on last year’s rental income.
David Atkins, Hammerson Plc chief executive, told the Telegraph: ‘We have seen income growth across all parts of the business [and] a very strong six months coming on the back of a very strong 2010.’
Despite the retail sector struggling over the course of the past couple of years, with the demise of many well known high street names, Hammerson Plc have reported excellent performance from its retail commercial property. Mr Atkins added: ‘There is no contradiction in saying retailers are finding it difficult but we are trading well. Our assets are where the shoppers are and where retailers want to be.’
Should you be looking to invest in the stock market, you could do a lot worse than to take a look at Hammerson Plc shares.
