Hammerson PLC on Monday confirmed that it is in discussions with entities related to Swiss property investor Redical Holdings AG for the sale of its Victoria Gate and Victoria Quarter shopping centres in Leeds.

The retail-focused real estate investment trust said there is no certainty that any deal will take place, but confirmed that the potential price for the sale is £120 million.

Hammerson was responding to a report by the Sunday Times.

https://www.thetimes.co.uk/article/frasers-mike-ashley-plots-320m-retail-park-sale-bx7lh35zl

Hammerson added on Monday that its strategy is to realign its portfolio to focus on ‘prime urban estates’ through the disposal of non-core assets, and recycle capital into its core portfolio and development pipeline.

Shares in Hammerson were up 0.3% at R 7.77 on Monday in Johannesburg, while its London shares were 1.9% higher at 37.75 pence.

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