Hammerson said on Wednesday it sold seven retail parks to Canadian private-equity firm Brookfield Asset Management for 330 million pounds, marking the mall operator's exit from the UK retail parks sector.
Hammerson is to slash rents for its retail tenants by around 30% as UK stores reopen post-Lockdown 3. UK & Ireland MD Mark Bourgeois said that “typically, we're resetting our rents to more affordable levels”.
Hammerson is selling its UK retail parks to Canadian private equity firm Brookfield for around £350 million, according to one report. However, on Monday, Hammerson said any deal is far from being sealed.