Here is a concise summary of the provided text
"Hammerson plc, a leading UK-listed company specializing in retail and leisure destinations, has provided a trading and guidance update. The company has substantially completed the acquisition of Brent Cross, a prominent London shopping destination, and reports strong year-to-date performance. Hammersons CEO, Rita-Rose Gagne, highlights the companys successful growth strategy and robust operational momentum. The acquisition of Brent Cross aligns with their strategy to consolidate control over landmark assets, offering higher yields and attractive returns.
The company has welcomed over 50 million visitors to its destinations so far in 2025, with robust footfall and sales performance. Hammerson has also delivered impressive leasing results, outperforming the previous year with 93 new leases signed. As a result, Hammerson expects total GRI growth of around 10% for 2025 and reaffirms its adjusted earnings guidance.
The acquisition of Brent Cross, along with previous acquisitions and repositioning efforts, reinforces Hammersons commitment to investing in prime assets and strengthening its portfolio. The companys pro forma LTV is now at 34%, and it continues to seek opportunities for further value creation. Hammersons destinations have shown strong performance in footfall and sales, with a 1% like-for-like sales increase in the first quarter.
The company also highlights its successful leasing performance, with increased occupancy and significant rental growth. Hammerson expects to benefit from major new openings and relettings in 2025, including flagship stores and unique partnerships. The updated guidance reflects the companys strong operational momentum and the positive impact of its strategic initiatives.
With a focus on prime retail and leisure destinations, Hammerson is well-positioned to meet the needs of its brand partners and consumers, while delivering sustainable long-term growth."