Hammerson today announces it has completed the disposal of non-core assets in Leeds for a cash consideration of £120m to entities associated with Redical[1], by means of a simultaneous exchange and completion.

The assets comprise the 19,400m2 Victoria Quarter shopping gallery, 37,600m2 Victoria Gate shopping centre, and the inter-linking Wrays Buildings.

The price is in line with the 30 June 2021 book value, which represented a net initial yield of 7.4%. 

The proceeds will be used to reduce net debt.

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

[1] SELETH 2 TRUSTEE (JERSEY) LIMITED, VICTORIA QUARTER SHOPPING CENTRE LIMITED, SELETH NEWCO 2 LIMITED, REDICAL HOLDINGS AG

Enquiries 
Hammerson Investor Contact
Josh Warren, Hammerson, Director of Strategy & Investor Relations
T: +44 20 7887 1053    E: [email protected] 

Hammerson Media Contacts
Natalie Gunson, Director of Corporate Communications
T: +44 20 7887 4672  E:  [email protected]