Hammerson’s new chief executive Rob Wilkinson has signalled an upbeat outlook for the retail-led REIT, saying the business has identified “multiple paths for growth” following a record year for leasing activity.

For the year ending 31 December 2025, Hammerson secured £51m of leasing income, representing an 18% uplift on a like-for-like basis. The deals were completed at 46% above previous passing rents, and delivered a 13% like-for-like increase when voids are excluded, underlining the strength of demand for well-located, high-performing space.

Total net rental income for the period rose by 23% to £180m, supported by like-for-like growth and contributions from joint venture acquisitions. The company also reported a significant uplift in portfolio value, with assets increasing by 33% over 2025 to £3.5bn, and assets under management reaching £4.4bn.

Since November 2024, Hammerson has invested £757m across a number of flagship retail-led destinations including Westquay, Brent Cross, Bullring and Grand Central, and The Oracle. The acquisitions were completed at an average yield of 7.6%, reflecting the group’s continued focus on assets where it sees scope to drive performance through active management.

Wilkinson, who took over as chief executive at the start of the year following the departure of Rita-Rose Gagné after five years in the role, said the results demonstrate the resilience of best-in-class retail-led city destinations. He pointed to strong leasing performance, high occupancy and improving footfall and sales as drivers of rental growth.

He said Hammerson will continue to focus on active asset management and targeted leasing activity, providing strong visibility over income streams. Wilkinson added that the group has a clear line of sight to further growth in rental income, earnings and dividend in the 2026 financial year and beyond, supported by a range of opportunities to build scale and create additional value.

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