Hammerson sells retail park as disposals programme continues

St Oswalds Gloucester

Institutional landlord Hammerson has sold a Gloucester retail park for £54m to the local authority, as it continues its asset disposal programme in order to balance its books.

The landlord confirmed the sale of St Oswald’s Retail Park in Gloucester to a local council for £54m – a price it said reflects a “net initial yield of 8.5%” and 8% below the June 30 2019 value.

Hammerson acquired and developed the site in 2005 and said it had since “increased the overall number of units on the park to improve the brand mix”.

The 225,000 sq ft centre hosts retailers such as Homesense, B&Q and Argos.

Subscription content

Please sign in now if you have a subscription or are already registered with us.

Retail Week

Register for free to continue reading

Retail-Week.com provides premium, in-depth intelligence that helps retailers judge risks, spot opportunities and identify what they need to do to win in the digital economy.

Register today for a taste of our high-quality intelligence and enjoy:

  • Two free article views per calendar month on Retail-Week.com
  • Detailed analysis of current trends and events 
  • Exclusive newsletters
  • In-depth reports, videos, interviews and much more

Discover Retail Week register now

Please note, if you have recently purchased a subscription, it may take a few minutes before your account is updated.