Property mogul John Whittaker has increased his stake in Hammerson to 4.6%, buying 12.7m shares in the shopping centre REIT through Peel Holdings.
His stake in the company is now worth more than £213m, which sits alongside his 26.1% stake in intu – valued at more than £952m as of 23 June.
The investment comes a month after Hammerson and Standard Life revealed new plans for their £1.4bn redevelopment of Brent Cross Shopping Centre, NW4.
Shares in Hammerson have risen by 3.9% since the beginning of the year, although they are still 15% below their peak in 2015.
Analysts at Jefferies said that Peel Holdings’ announcement bolstered the UK REIT market, which had slumped by -4% prior to the announcement but then recovered to -2.3% on the week before.
However, it also noted that Peel’s share of intu was down by 4% in the year to date.
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