×
142
Fashion Jobs
FOREO
Business Development Manager – Asia/SEA/Nea
Permanent · Hong Kong
SUPERDRY
Wholesale Business Analyst
Permanent · HONG KONG
SHISEIDO
Senior Manager - Financial Planning & Analysis, Finance And Accounts
Permanent · Hong Kong
SHISEIDO
Manager - Marketing (Social Media & Influencer Marketing), Shiseido And Drunk Elephant
Permanent · Hong Kong
L'OREAL GROUP
Group Product Manager
Permanent · Hong Kong
LEVI'S
Manager - Global Logistics Operations
Permanent · Hong Kong
SHISEIDO
Senior Manager - Marketing, Shiseido And Drunk Elephant
Permanent · Hong Kong
PUMA
Specialist, IT Service Delivery
Permanent · Hong Kong
AESOP
Digital Project Manager, Asia
Permanent · Hong Kong
SHISEIDO
Assistant Manager - Demand And Operations Planning, Ipsa
Permanent · Hong Kong
PUMA
Garment Technician
Permanent · Hong Kong
AESOP
Retail Consultant | Hong Kong And Macau
Permanent · Central
H&M
Sales Advisor Full Time-又一城店
Permanent · HONG KONG
H&M
Sales Advisor Full Time-尖沙咀新港中心店
Permanent · HONG KONG
H&M
Sales Advisor Full Time-沙田新城市廣場店
Permanent · HONG KONG
H&M
Sales Advisor Full Time-荃灣廣場店
Permanent · HONG KONG
H&M
Sales Advisor Full Time-銅鑼灣恆隆中心店
Permanent · HONG KONG
H&M
Sales Advisor Part Time-太古城中心店
Permanent · HONG KONG
H&M
Sales Advisor Part Time- 赤柱美麗樓店
Permanent · HONG KONG
H&M
h & m Sales Advisor Full Time
Permanent · HONG KONG
H&M
h & m Sales Advisor Part Time
Permanent · HONG KONG
LOVISA
Store Managers - New Stores Opening Soon
Permanent · HONG KONG
Published
Mar 1, 2022
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Hammerson completes Victoria Leeds sale only week after talks confirmed

Published
Mar 1, 2022

Hammerson has completed the super-quick disposal of its Victoria Gate and Victoria Quarter shopping centres in Leeds. Only last week, the UK property giant said it was still in early stages of negotiations.


Victoria Gate - Hammerson



But the sale of the ‘non-core assets’ has been pushed through now with Redical Holdings paying £120 million in cash.

Hammerson said the sale price is in line with the 30 June 2021 book value, which represented a net initial yield of 7.4%, adding the proceeds will be used to reduce net debt.

The assets comprise the 19,400 sq m Victoria Quarter shopping gallery, the 37,600 sq m Victoria Gate shopping centre, and the inter-linking Wrays Buildings.

Victoria Gate was described as a “game-changer” for the city when Hammerson opened the £165 million complex in 2016. It's anchored by John Lewis and includes fashion brands Ted Baker, Paul Smith, Kurt Geiger and beauty brands Space NK, Kiehl’s, L’Occitane and Jo Malone.

It’s been reported that the deal for Victoria Leeds represents “a long-term investment in a unique asset”  for  Redical, and its focus will be on “maintaining the quality of the development”.

This latest sale reinforces Hammerson’s decision to shift its focus to prime urban estates through disposals of non-core assets.

The group, whose portfolio includes the Bullring and Grand Central shopping centres in Birmingham and the Bicester Village Designer Outlet in Oxfordshire, needs to strengthen the balance sheet after a punishing pandemic and subsequent lockdowns that hit the commercial property sector hard.

The latest move reinforces  the announced sale (under the heading ‘disposal of non-core assets’) of its share in Silverburn, the 100,000 sq m shopping centre near Glasgow. The firm’s 50/50 joint venture was sold for £140 million in cash to Henderson Park and Eurofund.

Copyright © 2022 FashionNetwork.com All rights reserved.