Hammerson has completed the £330m sale of its retail park portfolio to Brookfield, formally marking its exit from the retail parks sector.
Brookfield previously exchanged contracts to buy the 2.2m sq ft portfolio last month.
The pricing reflected an 8% discount to a combined December book value of £357m, and a net initial yield of 8.6%.
The portfolio consists of: Central Retail Park in Falkirk; Cyfarthfa Retail Park in Merthyr Tydfil; Cleveland Retail Park in Middlesbrough; Elliott’s Field Shopping Park in Rugby; Telford Forge Shopping Park in Telford; Ravenhead Retail Park in St Helens; and The Orchard Centre in Didcot.
See also: ‘Nothing is off the table’: Hammerson’s Gagné on strategic review to stem losses
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