Hammerson sells St Oswald’s Retail Park
Shopping centre owner Hammerson has exchanged contracts on the sale of its St Oswald’s Retail Park in Gloucester.
The company has sold the 20,900 square metre scheme to a local authority for £54 million.
Situated to the north of Gloucester city centre, the retail park’s flagship tenants include the likes of Homesense, B&Q and Wren Kitchens.
Hammerson originally developed the site in 2005 and has since increased its number of units and improved the brand mix.
David Atkins, Hammerson chief executive, said: “Despite a challenging investment market, we are successfully executing disposals in line with our priority to reduce debt and strengthen our balance sheet. These transactions also give us the flexibility to capitalise on the opportunities we see in the market, particularly with regards to our City Quarters pipeline, which is core to the future direction and success of our business.”
