Hammerson joint venture buys three European centres

17th Nov 2014 07:59

Shopping centre developer Hammerson and its partners in a European joint venture have bought three more properties.Hammerson said its Via Outlets venture, which also includes APG, Meyer Bergman and Value Retail, acquired the Freeport portfolio of outlets from private equity group Carlyle.The group said the venture had bought the three properties, which include Alcochete in Portugal, Kungsbacka in Sweden and Excalibur in the Czech Republic, at an initial yield of 8% and offered attractive return prospects.It owns a 47% interest in Via Outlets and the newly purchased properties and will contribute £45m towards the deal.Chief executive David Atkins said: "This acquisition increases our scale in European outlets, which we are confident will deliver strong returns."Shares fell 1p to 612.5p in early trading in London.