Disposal

RNS Number : 9462P

Hammerson PLC

11 June 2015

 

11 June 2015

Sale of Bercy 2 shopping centre, Paris

Hammerson plc ("Hammerson") announces that it has exchanged contracts to sell its interest in Bercy 2 shopping centre in Charenton-Le-Pont, Paris, to Tikehau Capital Partners for €64 million (£47 million), ahead of the 31 December 2014 book value.

Located in the South East region of Paris, the 35,200m² centre (of which Hammerson's ownership is 20,200 m²) has 70 retail units and is anchored by Carrefour and Darty. The gross passing rent before operating costs is €4.6 million.

David Atkins, Chief Executive of Hammerson, said: "This transaction is in line with our strategy of actively managing our portfolio in France to create a platform of leading retail destinations. We continue to evaluate selected disposals and recycle capital into those assets and developments which are best positioned to deliver value creation for our shareholders. We are pleased to have capitalised on good investor demand to secure a sale above book value."

Hammerson was advised on the transaction by BNP Paribas Real Estate.

The transaction is expected to complete in Q3 2015.

ENDS

For further information:

David Atkins, CEO

Tel: [phone]

Rebecca Patton, Head of Investor Relations

Tel: [phone]

Notes to Editors

Hammerson is a FTSE 100 owner, manager and developer of retail destinations in Europe. Our portfolio of high-quality retail property has a value of around £7.7 billion and includes 22 prime shopping centres, 21 convenient retail parks and investments in 15 premium outlet villages, through our partnership with Value Retail and the VIA Outlets joint venture.

£/€ = 1.37

 

END

 

 

DISUAAORVUANAAR