Hammerson has confirmed it is in discussions to sell its 50% stake in Silverburn for £140m.
Hammerson owns the flagship Glasgow destination in a 50/50 joint venture with CPPIB.
The troubled retail specialist said in August that “disposals of non-core assets remains a near-term priority” as it struggles to “strengthen the balance sheet, re-balance the portfolio and to enable the group to recycle capital for investment”.
Hammerson said: “There can be no certainty that a transaction will take place.”
However, the company confirmed that the price under discussion is £140m.
As this would represent a class 2 transaction, Hammerson said it “will provide a further update in due course, if appropriate”.
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