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FinanceHammerson acquires 50% stake in Manchester Arndale for £218m
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Hammerson, the FTSE 250 property company, has purchased a 50% stake in the Manchester Arndale shopping centre for £218 million. This marks the firm's first major external acquisition in over a year, as it expands its UK retail real estate footprint. The Manchester Arndale is one of the UK's largest shopping centres, and the deal underscores Hammerson's confidence in the retail property sector, particularly in Manchester. The acquisition is seen as a strategic move to strengthen the company's presence in a key regional market.
Source report
Hammerson's chief executive has expressed strong enthusiasm for Manchester after the company acquired the Arndale shopping centre.
The deal marks a significant expansion of Hammerson's portfolio in the city, with the firm describing Manchester as a key strategic market. The acquisition of the Arndale centre underscores the company's confidence in the region's retail and commercial prospects.
No further financial details or terms of the transaction have been disclosed at this time.
Source
City AMWestern
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Hammerson acquires 50% stake in Manchester Arndale shopping centre for £218m