Hammerson's mixed-use Victoria Quarter in Leeds in the UK. Picture: 123RF
The sale of the parks to Orion Real Estate Fund is part of Hammerson’s strategy to exit the retail parks sector over the medium term, to focus on flagship assets, premium outlets, and city quarters in major European cities, the company said. The group has an interest in one remaining retail park, Brent South, part of the Brent Cross estate, which is held in a joint venture with Aberdeen Standard Investments and is marked for sale.
“Having achieved disposals of close to £1bn since the beginning of 2019, our focus remains on strengthening our balance sheet to create further resilience,” he said.
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