Haslemere NV announced that it has exchanged contracts to sell the freehold of The Shires Shopping Centre, Leicester, which it owns jointly (50/50) with Hermes. The sale is to a limited partnership of Hammerson plc and Hermes, for a consideration of Â£182.65 million (EUR 298.67m1).
The center has an existing annual rent of approximately Â£11.5 million (EUR 18.8m). Completion will take place at the end of March 2002.
The Shires Shopping Centre was built in 1991 and an extension was carried out in 1994, increasing the size of the scheme to 47,800 mÂ². The Shires is a fully enclosed two level shopping centre anchored by department stores, Debenhams (14,200 mÂ²) and House of Fraser (12,400 mÂ²). In addition, there are 76 shop units and tenants include Boots, Mothercare, Next, USC, Virgin and Waterstones. There is parking for approximately 900 cars on three levels above the shopping centre and direct access to a further 850 spaces in an adjoining NCP multi-storey car park.