Shopping centre owner Hammerson (HMSO.L) has agreed to sell some of its retail parks to a Canadian private equity firm after a tough year that saw the company’s property portfolio lose billions of pounds.
Brookfield will pay around £350m ($480m) for seven retail parks, the Sunday Times first reported. The seven sites include retail parks in Falkirk, Didcot, Middlesbrough, St Helens, Telford, Merthyr Tydfil and Rugby.
Hammerson, which owns the Bullring shopping centre in Birmingham and Brent Cross in London, said losses widened from £781m in 2019 to £1.7bn last year, as the value of its shopping centres in the UK, France and Ireland pummelled.
Source: Yahoo! Finance
By Suban Abdulla
