Brent Cross shopping centre owner Hammerson today appointed internal candidate David Atkins as its new chief executive.

He will replace 30-year company veteran John Richards when he retires in September.

The 43-year-old replacement is currently Hammerson's UK managing director and has been with the business for 11 years, so had been tipped as being a replacement for Richards, who has been at the helm for the past decade.

The changes at the top came as Hammerson reported a stabilising in its financial performance thanks to improving sentiment in the property market.

Prime UK property yields were now steadier, particularly in the UK, while tenants were still taking up space at its sites despite rising numbers of corporate insolvencies across the economy.

Overall occupancy levels were 92.6% at the end of last month.

In the City, new developments at 60 Threadneedle Street and 125 Old Broad Street were, respectively, 23% and 75% let, the company said.

That chimed with statements from its rival Liberty International which on Friday said that the rate of tenant failures had slowed significantly in the second quarter.

Hammerson launched a £584 million emergency rights issue in February.

Its net asset value per share for the half year was down 27.7% at 373p. This was a less marked decline than in previous statements.