Hammerson has confirmed media speculation that it is currently in discussions regarding a sale of Victoria Gate and Victoria Quarter shopping centres in Leeds. The company's strategy remains to realign the portfolio to focus on prime urban estates through disposals of non-core assets, to strengthen the balance sheet, and to re-cycle capital into its core portfolio and its development pipeline. The possible buyer is the entities related to Redical Holdings AG.
There can be no certainty that a transaction will take place, but Hammerson confirms the pricing under discussion is €144m (£120m), which would represent a class 2 transaction. The company will provide a further announcement if appropriate.
