Completion of VIA Disposal

RNS Number : 8532D

Hammerson PLC

02 November 2020

 

Hammerson plc

2 November 2020

Hammerson completes £277m disposal of VIA Outlets

Hammerson plc ("Hammerson") today announces that it has completed the sale of substantially all of its 50% interest in VIA Outlets to the APG Strategic Real Estate Pool, a mutual fund managed by APG Asset Management N.V., for €307 million (£277m) [1] .

The transaction is based on a gross asset value for Hammerson's share of the VIA portfolio of €644 million and represents a net initial yield of 6.5% and an 18.3% discount to gross asset value as at 30 June 2020.

The announcement above has also been released on the SENS system of the Johannesburg Stock Exchange.

ENDS

Investor Contact

Josh Warren, Hammerson, Head of Investor Relations

Tel: [phone]

[e-mail]  

Press Contacts

Hammerson

Catrin Sharp, Head of Corporate Communications

Tel: [phone]

[e-mail]

FTI Consulting (for Hammerson)

Dido Laurimore

Tel: [phone]

[e-mail]  

Notes to editors

Hammerson

Hammerson create vibrant, continually evolving spaces, in and around thriving European cities, with a focus on flagship retail destinations and Premium Outlets.  As of 30 June 2020, our portfolio of high-quality venues had a value of £7.7 billion and included 21 flagship destinations in thriving cities, and investments in premium outlet villages through our partnership with Value Retail. Key retail venues include Bullring & Grand Central, Birmingham, Bicester Village, Oxfordshire, Dundrum Town Centre, Dublin, and Les Terrasses du Port, Marseille.

 

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[1] Subject to retaining a 7.3% stake in VIA Zweibrücken

 

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