THE RETAIL BULLETIN - The home of retail news
Click here
Home Page
News Categories
Commentary
Department Stores
Electricals and Tech
Entertainment
Fashion
Food and Drink
General Merchandise
Grocery
Health and Beauty
Home and DIY
Interviews
People Matter
Retail Business Strategy
Property
Retail Solutions
Electricals & Technology
Sports and Leisure
Christmas Ads
Shopping Centres, High Streets & Retail Parks
Retail Events
People in Retail Awards 2024
Retail HR Central 2024
The Future of The High Street 2024
Retail HR Summit
THE Retail Conference
Upcoming Retail Events
Past Retail Events
Retail Insights
Retail Solutions
Advertise
About
Contact
Subscribe for free
Terms and Policies
Privacy Policy
Hammerson sells stake in Highcross Shopping Centre

Hammerson has exchanged contracts for the sale of its 50% stake in Leicester’s Highcross Shopping Centre. The £236 million deal has created a new £472 million… View Article

UK HIGH STREET NEWS

Hammerson sells stake in Highcross Shopping Centre

Hammerson has exchanged contracts for the sale of its 50% stake in Leicester’s Highcross Shopping Centre.

The £236 million deal has created a new £472 million joint venture with an Asian investor introduced by M&G Real Estate.

Anchored by the John Lewis and Debenhams department stores, the 110,000 square metre scheme attracts 18 million visitors a year and had an occupancy of 96.7% at the end of June.

Hammerson recently increased its disposal target for 2018 to £600 million. This latest sale takes the company’s disposals for the year to date to over £530 million. This includes the sale of four retail parks earlier this year.

David Atkins, chief executive of Hammerson, said: “This latest transaction is at a price that underpins the underlying strengths of our flagship destinations. It is clear there are institutional investors that continue to have the appetite to buy into top tier centres and see value in creating joint ventures with skilled operators.”

Hammerson’s portfolio includes 22 prime shopping centres, 15 retail parks and investments in 20 premium outlet villages.

Subscribe For Retail News