Hammerson has exchanged contracts on the £116m sale of its Villebon 2 retail park in France.
The asset was acquired by a consortium of French institutions.
The 511,000 sq ft retail park is located south of Paris and has 46 tenants with a passing rent of €8.5m (£6.2m).
Anchored by FNAC the site is 99% occupied.
David Atkins, chief executive of Hammerson, said: “We continue to see good investor demand for well-positioned assets in France and are pleased to have capitalised on this demand to secure a price that is well ahead of the latest book value. As previously communicated, the proceeds will be used to partially finance the recent acquisition of the Irish portfolio, anchored by Dundrum, and completes the first £200 million tranche of disposals. We expect the next tranche of £300 million of disposals to be completed as planned in the course of 2016.”
