海角视频

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Retail & Consumer

Hammerson sells off all its 海角视频 retail parks to Canada-based Brookfield for 拢330m

The business said the deal "concluded the firm's exit" from Britain's retail parks sector

Cleveland Retail Park(Image: Evening Gazette)

Property giant Hammerson has sold off all seven of its 海角视频 retail parks to Canadian private equity firm Brookfield for £330m.

The company said the deal represented an 8% discount on a December valuation of its portfolio at £357m and "concluded the firm's exit" from the 海角视频 retail parks sector.

Hammerson said cash from the sale would "further strengthen" the company's balance sheet and reduce its net debt, which was £2.2bn at December 31, 2020, and increase liquidity, which stood at £1.7bn at the same date.

It first confirmed it was in talks with Brookfield over the deal last week.

Rita-Rose Gagné, chief executive of Hammerson, said: "As highlighted at the full year results, our immediate priority is to strengthen the balance sheet. This latest disposal is a positive step.

"Alongside this, we continue to focus on delivering operationally. We have successfully welcomed back our customers in England to our flagship venues, with footfall levels well above the June 2020 reopening, and look forward to reopening our other destinations as local restrictions allow over the coming months."

The group, which also owns a number of 海角视频 shopping centres such as the Birmingham Bullring and Bristol's Cabot Circus, revealed on Tuesday it had collected less than half the rent it was due in the second quarter despite retail restrictions easing.

But the firm said a rise in shopper numbers across England was encouraging since the reopening of non-essential stores on April 12, with around 90% of operators able to trade and footfall at its sites “competitive with pre-pandemic levels”.