Hammerson goes on shopping spree in Europe with JV partners

 
Kasmira Jefford
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HAMMERSON has splurged on three shopping centres in Europe through its new joint venture with Value Retail, the owner of Bicester Vil­lage, Dutch pension fund asset manager APG and Meyer Bergman.

The FTSE 100 property firm is seeking to ramp up its exposure to the Europe’s booming outlet sector and used £70m of proceeds from its £400m share placing in September to create VIA Outlets. It said it had bought a portfolio of shopping centre outlets from The Carlyle Group, including the Alcochete in Portugal, Kungsbacka in Sweden and Excalibur in the Czech Republic.

Hammerson contributed €57m (£45.4m) towards the deal, in line with its 47 per cent interest in VIA Outlets. Chief executive David Atkins said: “This acquisition increases our scale in European outlets, which we are confident will deliver strong returns.”

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