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HAMMERSON PLC - Disposal of St Oswalds Retail Park, Gloucester

Release Date: 19/11/2019 09:00
Code(s): HMN     PDF:  
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Disposal of St Oswald’s Retail Park, Gloucester

Hammerson plc
(Incorporated in England and Wales)
(Company number 360632)
LSE share code: HMSO JSE share code: HMN
ISIN: GB0004065016
(“Hammerson” or “the Company”)

19 November 2019

Disposal of St Oswald’s Retail Park, Gloucester


Hammerson plc (“Hammerson”) has exchanged contracts on the sale of St Oswald’s Retail
Park, Gloucester, to a local authority for £54m. The sale price reflects a net initial yield of 8.5%,
and is 8% below the 30 June 2019 book value.

The 20,900m2 scheme, which is located to the north of Gloucester city centre offers a range of
bulky goods, retail and leisure space over two terraces. Flagship tenants include Homesense,
B&Q and Wren Kitchens.

Hammerson originally developed the site in 2005, and has since increased the overall number
of units on the park to improve the brand mix.

Following this transaction, Hammerson has achieved £577m of disposals in 2019, exceeding
its minimum disposal target, of in excess of £500m, for the financial year. This includes the
sale of a major stake in its Italie Deux flagship destination in Paris for £423m, announced in
July, as well as additional retail park disposals.

David Atkins, Hammerson Chief Executive, said: “Despite a challenging investment market,
we are successfully executing disposals in line with our priority to reduce debt and strengthen
our balance sheet. These transactions also give us the flexibility to capitalise on the
opportunities we see in the market, particularly with regards to our City Quarters pipeline, which
is core to the future direction and success of our business.”

Hammerson has its primary listing on the London Stock Exchange and a secondary inward listing
on the Johannesburg Stock Exchange.

Sponsor:
Investec Bank Limited

Press Contacts

Hammerson
Catrin Sharp, Head of Corporate Communications
Tel: +44 20 7887 1063
Catrin.sharp@hammerson.com

FTI Consulting (for Hammerson)
Dido Laurimore
Tel: +44 20 3727 1000
Dido.Laurimore@FTIConsulting.com


ENDS

Hammerson

Hammerson create vibrant, continually evolving spaces, in and around thriving European
cities, with a focus on flagship retail destinations and Premium Outlets. As of 30th June 2019,
our portfolio of high-quality venues had a value of £9.5 billion and includes 21 flagship
destinations, 12 convenient retail parks and investments in 20 premium outlet villages, through
our partnership with Value Retail and the VIA Outlets joint venture. Key retail venues include,
Bullring & Grand Central, Birmingham, Bicester Village, Oxfordshire, Freeport Lisboa Fashion
Outlet, Lisbon, Dundrum Town Centre, Dublin; and Les Terrasses du Port, Marseille. We
manage over 2,000 brand relationships and during trading hours, over 80,000 people visit our
shopping centres hourly across our flagship destinations in the UK, France & Ireland.

Date: 19/11/2019 09:00:00
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