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Hammerson sells retail park portfolio

Shopping centre owner Hammerson has agreed to sell its portfolio of seven retail parks to Brookfield for £330 million. The company said the proceeds will be… View Article

SHOPPING CENTRES, HIGH STREETS & RETAIL PARKS

Hammerson sells retail park portfolio

Shopping centre owner Hammerson has agreed to sell its portfolio of seven retail parks to Brookfield for £330 million.

The company said the proceeds will be used to strengthen its balance sheet, reduce net debt and increase liquidity. The sale represents an 8% discount to the 31 December 2020 book value of £357 million.

As previously announced, Hammerson has also recently disposed of its Brent South Shopping Park and its minority interests in Nicetoile and Espace Saint Quentin.

Rita-Rose Gagné, chief executive of Hammerson, said: “As highlighted at the full year results, our immediate priority is to strengthen the balance sheet. This latest disposal is a positive step. Alongside this, we continue to focus on delivering operationally. We have successfully welcomed back our customers in England to our flagship venues, with footfall levels well above the June 2020 reopening, and look forward to reopening our other destinations as local restrictions allow over the coming months.”

 

 

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