Hammerson has sold seven U.K. retail parks to Canadian private-equity firm Brookfield Asset Management for €300 million ($459.33 million), marking the mall operator’s exit from the U.K. retail parks sector. IREI reported the potential sale earlier this month.
The assets include Central Retail Park in Falkirk; Cleveland Retail Park in Middlesbrough; Cyfarthfa Retail Park in Merthyr Tydfil; Rugby’s Elliott’s Field Shopping Park, Telford Forge Shopping Park and Ravenhead Retail Park in St Helens; and The Orchard Centre in Didcot.
Hammerson will use the money to reduce its £2.2 billion (€2.55 billion/$3.06 billion) debt.
