Hammerson Plc’s £395 Million Sale Of Seven Retail Parks

Herbert Smith Freehills has acted on behalf of Hammerson Plc. Eversheds Sutherland, Dentons, Addleshaw Goddard and CMS Cameron McKenna Nabarro Olswang assisted with the asset-specific legal advice.

The transaction represents a key milestone in Hammerson’s corporate development, given its announced intention to pursue portfolio-wide disposals and exit its UK retail parks portfolio over the medium term. This disposal all but concludes this strategic initiative. The transaction is expected to complete in April 2020 and the proceeds will be used to reduce debt in the Hammerson group.

Hammerson plc is a major British property development and investment company. The firm switched to real estate investment trust (REIT) status when they were introduced in the United Kingdom in January 2007.

Herbert Smith Freehills advised on all elements of the transaction. The team was led by London Corporate and London Real Estate, including partners Alex Kay (Picture) and Don Rowlands, associates Emily Naylor, Hannah Etim-Gorst, Holly King, Lucy Curran, Harriet Sykes, Adam Goddard and trainee Eliza Joseph. The wider team included Will Arrenberg and Pindy Gainda from London Tax.

Involved fees earner: Will Arrenberg – Herbert Smith Freehills; Lucy Curran – Herbert Smith Freehills; Hannah Etim-Gorst – Herbert Smith Freehills; Perminder Gainda – Herbert Smith Freehills; Adam Goddard – Herbert Smith Freehills; Alex Kay – Herbert Smith Freehills; Holly King – Herbert Smith Freehills; Emily Naylor – Herbert Smith Freehills; Don Rowlands – Herbert Smith Freehills; Harriet Sykes – Herbert Smith Freehills;

Law Firms: Herbert Smith Freehills;

Clients: Hammerson;