Birmingham’s Bullring owner hails return of shoppers

THE owner of Birmingham’s Bullring centre has said shoppers are finally returning to stores, as customer spending exceeds pre-pandemic levels.

Hammerson, which also owns London’s Brent Cross and High Cross in Leicester among others, said spend per visit was around 4pc ahead of 2019 levels, despite the cost of living crisis squeezing household budgets.

Adjusted earnings for the year are now expected to be around £100m, the company said, better than the £92m predicted by analysts.

Footfall across the UK and Ireland has shown signs of improvement and is now running at 90pc of 2019 levels, Hammerson said.

Its French centres are enjoying an even brisker trade, with 95pc of 2019’s level of visitors.

Hammerson was battered by the pandemic as shopping centres were forced to close during lockdowns.

The company has been selling off assets in an attempt to reduce its £1.7bn debt pile and sold property worth £194m in the first half of the year.