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Disposal of Saint Sébastien shopping centre, Nancy
Hammerson plc
(Incorporated in England and Wales)
(Company number 360632)
LSE share code: HMSO JSE share code: HMN
ISIN: GB0004065016
(“Hammerson” or “the Company”)
6 December 2017
Disposal of Saint Sébastien shopping centre, Nancy
Hammerson plc (“Hammerson”) has exchanged contracts for the sale of its ownership in Saint
Sébastien shopping centre, Nancy, to AEW Ciloger on behalf of SCPI Laffite Pierre and
Actipierre Europe for a net vendor price of EUR 162 million (£143 million), moderately below
30 June 2017 book value.
Well located in the centre of Nancy, north-east France, Saint Sébastien totals 24,000 m2 GLA,
comprises 105 retailers and is 95% let. Key anchors include Monoprix, Intersport, C&A and
Sephora. Hammerson’s ownership represents 75% of GLA.
Hammerson acquired its stake in Saint Sébastien in 2014 for EUR 130 million (£109 million).
Since then the centre has benefited from being actively repositioned through a renovation
project in 2016, the creation of a number of new retail units, and leasing to lift the quality of the
tenant mix. These activities incurred total capital expenditure of around EUR 12 million. The
asset generates an annual passing rent of EUR 8 million (£7 million).
Completion is expected to occur before year end and is subject to the usual conditions
precedent.
David Atkins, CEO Hammerson, commented: “We have successfully repositioned Saint
Sébastien and improved the tenant mix through effective asset management and investment,
enabling us to recognise a valuation uplift since acquisition. I am also pleased to report that
following this sale, we have exceeded our 2017 target of £400m disposals as part of our capital
recycling strategy.”
For further information:
David Atkins, CEO
020 7887 1000
Rebecca Patton, Head of Investor Relations
020 7887 1109
Hammerson has its primary listing on the London Stock Exchange and a secondary inward
listing on the Johannesburg Stock Exchange.
Joint Sponsors:
Deutsche Securities (SA) Proprietary Limited
Java Capital
Notes to Editors
Hammerson is a FTSE 100 owner, manager and developer of retail destinations in Europe.
Our portfolio of high-quality retail property has a value of around £10 billion and includes 23
prime shopping centres, 18 convenient retail parks and investments in 19 premium outlet
villages, through our partnership with Value Retail and the VIA Outlets joint venture. Key
investments include Bullring, Birmingham, Bicester Village, Oxfordshire, Dundrum Town
Centre, Dublin and Les Terrasses du Port, Marseille.
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