Hammerson Chief Executive John Richards said: "In recent years we have substantially enhanced the quality of our retail portfolio with the openings of The Oracle in Reading, WestQuay in Southampton, and Bullring in Birmingham, which is nearing completion. Today's transaction is in line with our strategy of recycling capital. Following this disposal, Hammerson now owns only five properties that were in the portfolio ten years ago."

Hammerson, which still owns 16 shopping centres and 18 out-of-town retail parks in the UK and Continental Europe with a total of 13 million sf of space, was advised by Donaldsons and CB Hillier Parker.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM Digital Member, you’ll receive:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Retail