Hammerson PLC - London-based property development and investment company - Seals the sale of Union Square shopping centre in Aberdeen, Scotland for GBP111 million in cash. The disposal marks the conclusion of its GBP500 million programme of disposals of non-core assets, it said. The price represents an 8% discount to the book value of Union Square at the end of December, and a net initial yield of 11%. Union Square was sold to an affiliate of Lone Star Real Estate Fund VI LP.

Current stock price in London: 26.44 pence, up 0.3% on Friday afternoon

12-month change: up 7.7%

Current stock price in Johannesburg: ZAR6.28, up 0.5%

12-month change: up 18%

By Artwell Dlamini, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2024 Alliance News Ltd. All Rights Reserved.