Hammerson looks to take full control of Brent Cross
Hammerson has confirmed that it is in the process of acquiring full control of Brent Cross shopping centre in Greater London.
The real estate investment trust said that it intends to acquire the units within Abrdn’s UK Shopping Centre Trust (SCUT) – which holds the 59% of the scheme not already held by Hammerson – for a total consideration of £200m.
Hammerson’s existing stake, together with the SCUT units it has already acquired or for which contracts have been exchanged, currently represents an interest in Brent Cross of over 90%.
The group said the process is ongoing and that a further update will follow in due course.
Brent Cross offers over 914,000 sq ft of space over two levels and accommodates more than 120 shops and 30 cafés and restaurants.
The scheme is anchored by M&S, Fenwick, and Zara, with other tenants including Miele, Superdrug, Reserved, Phase Eight and Ray Ban.
The news marks a continuation of Hammerson’s acquisition strategy, which saw it purchase the remaining 50% stake in Southampton’s Westquay last autumn.