×
4 520
Fashion Jobs
AESOP
Retail Consultant | Aesop Piccadilly Arcade, London | Full Time
Permanent · London
TK MAXX
Security And Loss Prevention Advisor
Permanent · Preston
TJX EUROPE
Brand & Marketing Administrator
Permanent · Grand Londres
TK MAXX
Loss Prevention Advisor - Glasgow And Surrounding Area - Full-Time- Permanent
Permanent · Glasgow
TK MAXX
Loss Prevention Officer - Permanent - 2 x pt 20hrs Bedford Town
Permanent · Bedfordshire
FARFETCH
Senior Performance Marketing Executive (DACH Region) – Affiliates And Growth Partner Marketing
Permanent · LONDON
RALPH LAUREN
Sales Professional
Permanent · London
RALPH LAUREN
Sales Professional
Permanent · London
ABERCROMBIE AND FITCH STORES
Abercrombie & Fitch - Brand Representative, Shepherd’s Bush (Westfield)
Permanent · London
ABERCROMBIE AND FITCH STORES
Abercrombie & Fitch - Brand Representative, Trafford
Permanent · Manchester
HOLLISTER CO. STORES
Hollister CO. - Brand Representative, Princesshay
Permanent · Exeter
MULBERRY
Warehouse Team Leader
Permanent · SHEPTON MALLET
MULBERRY
Senior Retail Operations Manager UK & Emea
Permanent · LONDON
H&M
Security Guard
Permanent · MILTON KEYNES
LOVISA
Regional Manager
Permanent ·
EVERLAST GYMS
Assistant General Manager - Everlast Fitness
Permanent · DENTON
EVERLAST GYMS
General Assistant - Everlast Gyms
Permanent · HALIFAX
FRASERS GROUP
Logistics Project Manager
Permanent · SHIREBROOK
FARFETCH
Service Desk Analyst
Permanent · LONDON
MULBERRY
Lawyer
Permanent · CHILCOMPTON
MULBERRY
Warehouse Administrator
Permanent · SHEPTON MALLET
HARVEY NICHOLS
Brand Consultant - Marcolin - 20 Hours
Permanent · LONDON
Ads
Published
Sep 4, 2019
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Could Hammerson sell stake in Bicester Village owner?

Published
Sep 4, 2019

Just a day after Hammerson and APG said they’re taking full control of Via Outlets, comes news that the UK mall operator may be mulling the sale of its £1.9 billion stake in Value Retail, the company that operates the wildly popular Bicester Village mall. Hammerson hasn’t commented on the story that was reported by the React News property website.


Bicester Village



Hammerson has a 39% stake in Value Retail, which itself owns nine shopping villages across Europe. Value Retail was one of the minority owners whose Via Outlets stake Hammerson and APG have just acquired.

So why would it want to sell its holding in a hugely successful business just after it has added to its holding in another outlets specialist?

Well, since it rebuffed the takeover approach from France’s Klépierre and since the failed merger with Intu, Hammerson has been under pressure to maximise value for its shareholders. American activist investor Elliott Advisors owns a 5% stake in the firm and has been pressing it to dispose of assets on which it can realise a big return. Hammerson agreed to set up a non-executive director committee to oversee asset disposals.

Hammerson last year spent £76 million to increase its share in Value Retail and has varying stakes in the firm’s different villages. The purchase meant it now owns more than 50% of Bicester Village. That location alone sees the highest sales per square foot of any shopping destination globally and it’s the second most-visited destination in England by Chinese tourists. 

Value Retail, and Bicester in particular, have major future potential too as outlets have outperformed other retail segments and are predicted to grow 6% annually up to 2025. That means selling its stake would offer the company a big instant payoff as the business would be expected to fetch a healthy price premium.

Copyright © 2023 FashionNetwork.com All rights reserved.