Institutional landlord Hammerson has said the previously agreed £400m sale of its retail park portfolio is hanging by a thread, as the prospective buyer is looking to pull out of the deal.
In a statement to the City today, Hammerson said the Orion European real estate fund had indicated it “did not intend to complete” the £400m deal the two parties agreed on February 21 for seven of the landlord’s UK retail parks.
The landlord said it “remains ready and able to comply with its completion obligations” with regards to the agreed deal and said it is in discussion with Orion.
The deal was due to be completed today and if Orion does not proceed, Hammerson said it would “serve a notice to complete” no later than May 6.
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