Fri, 16 Apr 2021 | BUSINESS SALE
The owner of Cabot Circus shopping centre in Bristol has confirmed it is in talks over the potential sale of seven of its UK retail parks.
Property firm Hammerson has revealed to investors that it is currently in the middle of discussions with potential buyers over the possible sale of the parks, but admits that there is "no certainty" a transaction will take place with the parties in question.
The parks in question include sites in Birmingham, Brent Cross in London, Falkirk, Didcot, Middlesbrough, St Helens, Telford, Merthyr Tydfil and Rugby.
The value of the firm's retail parks and stores has recently been reduced by almost £2 billion after the company revealed that the COVID-19 pandemic had led to the biggest fall in rental income in its history. Figures show the group has seen its overall value fall from £8.33 billion in 2019 to £6.34 billion at the end of 2020.
According to Hammerson, the potential sale of the retail parks would help the firm "further strengthen the balance sheet" by offloading a number of its assets following the dramatic drop in value.
In spite of the firm's concerns, it added that its retail parks have been trading well compared to other areas of its portfolio, particularly those that contained large supermarkets or open spaces where people could exercise. To date, it has secured gross proceeds of around £73 million in 2021, making the sale of the retail parks a potentially tempting prospect for buyers.
One of the best ways to find properties below market price is to look at recent administrations.
The company offers an extensive range of luxury cars, including vehicles from prestigious manufacturers such as Aston Martin, Ferrari, Lamborghini and Rolls Royce. The business operates with a unique showroom-free approach, utilising a dedicated onli...
FREEHOLD
The company offers the sale of fashion jewellery, lingerie, and sexual health products and toys, pyjamas, gym clothing, beachwear, and PPE. Priding itself on its high-quality products and exceptional customer service, the company offers its produc...
LEASEHOLD
A thriving e-commerce business that specialises in both travel luggage and hamper gifting sectors. The business has been trading since January 2012. They have introduced a branded website for affordable gifting to suit all budgets and occasions and a...
LEASEHOLD
30
|
Jan
|
Bakery manufacturer acquired at 6.3x underlying earnings | BUSINESS SALE
Bakery firm Lees Foods has been acquired by listed bakery bu...
30
|
Jan
|
“Unique” intellectual property for sale as disability equipment firm enters by liquidation | ADMINISTRATION
The assets and intellectual property of disability equipment...
27
|
Jan
|
Administrators to sell assets as office furniture maker collapses | ADMINISTRATION
Bluespot Furniture, a West Yorkshire-based furniture manufac...
Sign up to receive our acquisition alert emails to get your FREE guide
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources