Hammerson has sold its 25% stake in Italie Deux, a 62,000m2 shopping centre in central Paris, and 100% of the 6,500m2 Italik extension for €164m to Ingka Centres.
Hammerson said this represents a 4% discount to 31 December 2022 book value and a net equivalent yield of 5.0%.
”The exit marks the continued progress in the simplification of the company’s portfolio. The proceeds will further strengthen the balance sheet and reduce net debt,” the company said.
Together with the £195m of disposals completed in 2022, the group has generated total proceeds of c.£340m against the company’s commitment of £500m of disposals by the end of 2023.
Click here to receive CRE Herald’s weekly newsletter, news alerts and insights!
