Hammerson has confirmed that it was in talks for a possible sale of its retail parks portfolio to Canadian private equity player Brookfield Asset Management, as the shopping centre operator tries to shore up its finances.
Last month, Hammerson reported a loss of £1.7 billion for 2020.
It also issued a longer-term debt warning, as the coronavirus crisis knocked the value of its shopping centres.
Retail parks have been relatively resilient during the Covid-19 pandemic, partly because essential retailers were allowed to operate during lockdowns from these parks that also provide for drive-in and open-air shopping experiences.
The Sunday Times had reported Brookfield would pay Hammerson £350m for seven retail parks as part of the deal. The newspaper also reported that the disposed portfolio comprises retail parks in Falkirk, Didcot, Middlesbrough, St Helens, Telford, Merthyr Tydfil, and Rugby.
Hammerson owns a 50% stake in the Dundrum, Ilac and Pavillion shopping centres in Dublin, and a 40% stake in Kildare Village.
