7 November
2024
Hammerson plc ("Hammerson" or the
"Company")
Hammerson acquires remaining 50% stake
in Westquay
Hammerson today announces the completion of the
acquisition of the remaining 50% stake in Westquay for £135m (the
"Transaction"). This gives
the Company a 100% interest in a leading retail and leisure
destination situated in the heart of the South Coast, which is A
rated by Green Street.
The consideration will be funded by the
proceeds received from Hammerson's recent disposal of its stake in
Value Retail.
Rita-Rose
Gagne, CEO of Hammerson, commented:
"This transaction is in line with our stated
strategy. Combined with our recently enhanced funding position and
disciplined approach to capital allocation, we are well placed to
deliver growth and value creation".
ENDS
Hammerson
Investor Contact
Josh Warren, Hammerson, Director of Strategy,
Commercial Finance & Investor Relations
T: +44 20 7887 1053
E: josh.warren@hammerson.com
MHP for
Hammerson
Oliver Hughes, Ollie Hoare and Charles
Hirst
T: +44 (0)20 3128 8100 E:
Hammerson@mhpgroup.com
About
Westquay
Westquay is located in a broad, affluent and
growing catchment area by both population and employment.
With 94,400m2 of internal lettable area, Westquay
attracts over 17m visitors a year.
As at 31 August, Westquay was occupied by a
diverse mix of global and national brands, including Apple,
M&S, Pandora and Hugo Boss. Westquay continues to benefit from
ongoing investment in the mix of brands and uses at the destination
as well as greater activation of its unique public
realm.
The
announcement above has also been released on the SENS system of the
Johannesburg Stock Exchange and on Euronext
Dublin.
