Shopping centre giant Hammerson is to strengthen its board and ramp up its disposal programme after reporting a loss in 2018 as the shift in consumer behaviour intensifies.

Reporting its numbers for the year to the end of December 2018, the group, currently looking to redevelop The Square retail mall in Birmingham, said it would aim to sell off a further £500m-worth of assets by the end of the current financial year, on top of the £570m it generated in sales during 2018.

It has established a dedicated investment and disposals committee to oversee the downscaling and plans to beef up its senior board, having named Odeon cinema chain boss Carol Welch as a non-executive director who starts at the beginning of next month and plans to name two more non-execs during the year.