£75 million deal to increase exposure to retail parks
Hammerson has bought the 298,500 sq ft (27,730 sq m) Fife Central Retail Park at Kirkcaldy from Multiplex for£74.7 million, as it steps up its commitment to the retail warehouse sector.

Fife Central opened in 1997 with a part Open A1 planning consent. The units are let to Sainsbury's, Next, Homebase, Boots, JJB Sports, Comet and Halfords, with a combined rental income of£3.4 million a year.

Hammerson chief executive John Richards said: 'Following our success in the retail parks sector, we have been actively seeking additional opportunities for expansion. This property is well let and has significant reversionary potential, with further opportunities to add value through active asset management and development.'

Hammerson was represented by Savills. The vendor was represented by Montagu Evans.