By Richard Hook2018-11-29T10:34:00
Hammerson has completed on the sale of a 50% stake in its Highcross shopping centre in Leicester to an Asian investor represented by M&G Real Estate for £236m.
The transaction was completed following the arrangement by the new joint venture of a £165.2m five-year loan with Helaba and NatWest. Hammerson said it planned to use the net proceeds of the sale, which was agreed at a 5% discount to book value, to reduce net debt.
Hammerson will continue to manage the 1m sq ft shopping centre, which is located in the city centre of Leicester. The scheme is anchored by John Lewis, Debenhams and a Showcase Cinema de Lux.
You must be logged in to continue
Register for free to finish this article
Registration includes the following benefits:
To access this article REGISTER NOW
Four articles not enough? SUBSCRIBE for unlimited access to over 100 weekly articles and our comprehensive archive. For as little as £5 per week.