Hammerson sells Abbotsinch site

Retail park sold to Ashby Capital for £67m

Hammerson has exchanged contracts for the sale of Abbotsinch Retail Park, Paisley to Ashby Capital for £67m.

Covering 265,000 sq ft of floor space, Abbotsinch is located 5 miles west of Glasgow and is fully let to a line up of brands including an anchor B&Q, Dunelm, Tapi and Natuzzi.

David Atkins, Hammerson chief executive, said: “Our absolute priority is to reduce debt, and with this deal we have exceeded our target of over £500m in disposals in 2019. We continue to progress negotiations on additional assets across the portfolio. Disposals enable us to prove the value of this business and strengthen our balance sheet, and also give us the flexibility to benefit from the opportunities that will arise in the coming years, particularly with regards to our City Quarters pipeline.”

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