Key facts
- Hammerson acquired a 50% stake in Manchester Arndale.
- The acquisition cost was £218 million.
- This is Hammerson's first major external acquisition in over a decade.
- Hammerson launched a new equity issue to fund the deal.
- The equity issue raised £190 million.
Hammerson has completed the acquisition of a 50% stake in the Manchester Arndale shopping center, a deal valued at £218 million. This move signifies Hammerson's first major external acquisition in over a decade, signaling a renewed strategy for growth. The FTSE 250 company funded the purchase through a new equity issue amounting to £190 million. The Manchester Arndale is a prominent retail destination, and this acquisition is expected to bolster Hammerson's portfolio. The company's strategic focus on prime retail assets continues with this significant investment. This transaction underscores Hammerson's confidence in the retail property market, particularly in key urban centers. The acquisition is anticipated to contribute to Hammerson's long-term value creation and rental income.