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.

France’s Unibail-Rodamco is Europe’s largest commercial landlord and is now expected to become the world’s largest shopping centre operator with its bid to buy Australian-listed retail property empire Westfields.

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