Hammerson said on Wednesday it sold seven retail parks to Canadian private-equity firm Brookfield Asset Management for 330 million pounds, marking the mall operator's exit from the UK retail parks sector.
Hammerson is to slash rents for its retail tenants by around 30% as UK stores reopen post-Lockdown 3. UK & Ireland MD Mark Bourgeois said that “typically, we're resetting our rents to more affordable levels”.
Hammerson is selling its UK retail parks to Canadian private equity firm Brookfield for around £350 million, according to one report. However, on Monday, Hammerson said any deal is far from being sealed.
Shareholders of under-pressure UK property firm Hammerson have voted in favour if its rescue plan that includes a right issue valued at £525 million and the £274 million sale of its stake in the VIA Outlets business
UK malls giant Hammerson on Monday confirmed press peculation that it’s in “advanced discussions on the terms of a possible disposal of its 50% interest in VIA Outlets to its joint venture partner APG”.
Malls giant Hammerson said Monday it has received “a variety of requests for rent deferrals, which we are reviewing on a case-by-case basis” across its properties in the UK, Ireland France and other European countries.