Up-to-date coverage of the latest events in UK retail.

Retail landlords hit by £1bn value crash

Nearly £1bn was wiped from the value of some of the UK’s largest retail property landlords yesterday, after shareholders reacted to the news that giants such as Hammerson and Intu were struggling. 

Intu shares slumped by 32% to an all-time low of just over 42p yesterday, after it reported that its net annual income from rents across its UK portfolio had plummeted in the first half of the year 17.9% to £205.2m. 

Hammerson reported rental income had fallen by 6.8% in the first half of the year, due to retail CVAs and administrations. In response, its shares fell in value by over 10%. 

Both Land Securities and British Land share prices also fell overnight as investors were left questioning whether their money was safe in the retail property market.