Hammerson completes £69m sale of non-core assets to fund full acquisition of Dublin’s Ilac
Hammerson has completed the sale of £69m of non-core assets, with the funds recycled to acquire the remaining 50% stake in Dublin’s Ilac centre not already owned by the group.
The real estate investment trust said it has disposed of multiple holdings in central Dublin as well as a further non-core investment. Alongside a disposal in Leeds completed in January, Hammerson has now divested £75m worth of non-core investments in 2026.
The central Dublin holdings were sold to Transport Infrastructure Ireland to unlock key infrastructure for the city’s planned Metrolink train system. Hammerson has retained certain holdings in Dublin which it said provides strategic options across development, partnerships, and future value realisation.
Hammerson said the proceeds from the sale will be deployed in line with its capital allocation priorities, including balance sheet strength and recycling into existing assets and new opportunities at attractive yields. The company recently completed the acquisition of the remaining 50% interest in the Ilac it did not already own, taking full control of the Dublin city centre destination.
Rob Wilkinson, CEO of Hammerson, said: “These transactions are further testament to our focus on driving value from development activity and non-core disposals while recycling capital into JV buyouts. In Ireland, it shows us committing to what we do best – investing in schemes that are exceptional hubs for brands and experiences that meet the needs of our customers, the community and Dublin at large.”