Hammerson PLC-Unaudited 2019 half-year results.

Thursday, 29 November 2018 17:54

Hammerson completes £236m Highcross sale

Hammerson plc  today announces that is has completed the sale of the 50% stake in Highcross shopping centre in Leicester to an Asian investor introduced by M&G Real Estate for £236m.

Hammerson plc (“Hammerson”) has exchanged contracts for the sale of a 50% stake in Highcross shopping centre in Leicester for £236m. This represents a 5% discount to December 2017 book value allowing for capex associated with the proactive reconfiguration of the former House of Fraser store.

David Atkins, Chief Executive of Hammerson, said: “Our reshaped strategy sees us taking decisive action to further reposition our portfolio.

David Atkins, Chief Executive of Hammerson, said: “In recent years we have actively rebalanced the weighting of our portfolio towards high footfall destinations in major cities across the UK and Europe and this has underpinned our strong financial success at a time of on-going structural change in retail.

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