UK HIGH STREET NEWS
Hammerson completes sale of stake in Highcross
29 November, 2018 | by Retail Bulletin
Hammerson has completed the sale of its 50% stake in Highcross shopping centre in Leicester for £236 million.
The stake was sold to an Asian investor who was introduced by M&G Real Estate.
David Atkins, chief executive of Hammerson, said: “We are pleased to have attracted a respected investor who shares our future vision for Highcross. The recent leasing momentum demonstrates that brands continue to open new stores, however the location has to be right, with only the best destinations making the cut.”
Hammerson will use the proceeds from the sale to reduce both drawings under its revolving credit facilities and net debt.
