What: Hammerson has acquired the remaining 50% stake in Westquay mall for GBP 135 million, achieving 100% ownership of the Southampton shopping centre.

Why it is important: This strategic acquisition aligns with Hammerson's focus on core retail properties and demonstrates the company's commitment to investing in prime retail and leisure destinations with strong brand portfolios.

Hammerson, a British retail property giant, has completed the purchase of the total stake in Westquay, a major shopping centre located on England's South Coast. The GBP 35 million investment was funded by proceeds from the company's recent sale of its Value Retail stake. Westquay spans over 95,000 sq m and features a robust mix of fashion and beauty retailers, including H&M, John Lewis, Next, Boss, Flannels, and beauty brands like Lush, Space NK, and Rituals.

CEO Rita-Rose Gagne emphasised that the acquisition is in line with the company's strategic approach to capital allocation and positioning for growth. This move reflects Hammerson's efforts to consolidate its portfolio and focus on high-performing retail destinations with diverse brand offerings.

Hammerson completes full ownership of Westquay shopping centre