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Hammerson sells Gloucester retail park for ?54m
19th Nov 2019 07:04
(Sharecast News) - Hammerson said it had sold the St Oswald's Retail Park in Gloucester, to a local authority for £54m.
The sale price reflected a net initial yield of 8.5%, and was 8% below book value at June 30, the company said on Tuesday. Hammerson has now raised £577m from disposals in 2019, exceeding its minimum target of £500m for the financial year.
Chief executive David Atkins said: "Despite a challenging investment market, we are successfully executing disposals in line with our priority to reduce debt and strengthen our balance sheet."
The sale price reflected a net initial yield of 8.5%, and was 8% below book value at June 30, the company said on Tuesday. Hammerson has now raised £577m from disposals in 2019, exceeding its minimum target of £500m for the financial year.
Chief executive David Atkins said: "Despite a challenging investment market, we are successfully executing disposals in line with our priority to reduce debt and strengthen our balance sheet."