Hammerson expands ownership in Brent Cross Shopping Centre

LONDON - UK-based real estate company Hammerson (LON:HMSO) PLC has announced its move to increase its stake in the iconic Brent Cross Shopping Centre. The company is in the process of acquiring additional shares in the abrdn UK Shopping Centre Trust (SCUT), which currently holds 59% of Brent Cross. This transaction will raise Hammerson’s economic interest in the shopping center to over 90%.

The acquisition involves a net cash consideration of approximately £200 million. This strategic move comes as Hammerson already holds a managing stake in Brent Cross, and the company has either acquired or exchanged binding contracts for SCUT units, solidifying its position in the shopping center’s operations.

Brent Cross, located in North London, is one of the capital’s leading retail destinations and has been a significant asset in Hammerson’s portfolio. The company is known for managing prime retail and leisure destinations in the UK, France, and Ireland, focusing on integrating retail, leisure, and community spaces to adapt to changing consumer and occupier needs.

The announcement was made following recent speculation in the press regarding Hammerson’s interest in Brent Cross. While the process is still ongoing, Hammerson has stated that it will provide further updates in due course.

Hammerson’s portfolio includes some of the top-ranked retail venues across its operational geographies, drawing in a catchment of 40 million people and generating £3 billion in sales annually for its brand partners. The company’s focus is on delivering sustainable long-term growth for stakeholders while adapting to the evolving landscape of retail and leisure spaces.

This move is expected to further consolidate Hammerson’s influence over Brent Cross, ensuring greater control over the center’s future development and operations. The information on this acquisition is based on a press release statement and has also been disseminated through the SENS system of the Johannesburg Stock Exchange and on Euronext (EPA:ENX) Dublin.

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