Hammerson considers sale of Bicester Village-owner stake
The shopping centre owner is believed to be in discussion with multiple investors about buying the 40% stake in Value Retail and a deal could be striked before the end of the year
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Britain’s biggest shopping centre owner, Hammerson, is in talks to sell its stake in Bicester Village-owner for about £1bn, Sky News has reported.
The shopping centre owner is believed to be in discussion with multiple investors about buying the 40% stake in Value Retail and a deal could be striked before the end of the year.
Value Retail owns a dozen sites, including those in Shanghai and Suzhou in China branded under the Bicester Village name, and others located in Barcelona, Frankfurt, Madrid and Milan.
It is estimated that Hammerson’s stake is valued at £1.2bn, however it may ultimately discount that figure.
If the sale goes ahead, it would be the latest move in Hammerson’s reshaping under Rita Rose-Gagne, its chief executive since 2020.
In a statement issued to Sky News, Hammerson said: “Value Retail is an attractive portfolio but, as we’ve previously stated, it’s not part of our core proposition to have an investment in a platform.
“We are not forced sellers and will look to maximise our options at the right time.”
