Hammerson increase stake in Brent Cross

Hammerson, the largest UK-listed, pure-play owner and manager of prime retail and leisure anchored city destinations across the UK, France and Ireland, has increased its stake in London shopping centre Brent Cross.

In a statement, Hammerson confirmed it is acquiring the units in the Abrdn UK Shopping Centre Trust (SCUT), which holds 59 percent of Brent Cross, not already held by Hammerson, for a net cash consideration of around 200 million pounds.

The move will see Hammerson taking full control of the North London shopping centre, taking its stake in Brent Cross to 90 percent.

Brent Cross opened in 1976 by King Charles III and was the first indoor ‘shopping mall’ developed in the UK. It offers more than 900,000 square feet of space over two levels, housing over 120 shops. The shopping centre is anchored by M&S, Fenwick, and Zara.