Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

Hammerson sells stake in Highcross

Hammerson has completed the sale of its 50% stake in Highcross shopping centre in Leicester to an Asian investor for £236m.

The sale price represents a 5% discount to the December 2017 book value.

The completion of the transaction follows standard European Union competition clearance.

Hammerson will use the net proceeds from the sale to reduce drawings under its revolving credit facilities and reduce net debt.

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.

“We don’t see this changing any time soon, and a vibrant brand line-up with the ability to ensure constant variety is fundamental to Highcross’ success as a flagship venue.”

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.