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Hammerson suffers blow as retail parks disposal deal collapses

Hammerson said it will now terminate the purchase agreement and take the £21mln deposit held in escrow

Hammerson -
One of the parks is in Cleveland

Hammerson PLC (LON:HMSO) said it has been formally notified that Orion European Real Estate Fund has pulled out of the purchase of a portfolio of UK retail parks for £400mln.

Unconditional contracts had been exchanged in February, but the fund confirmed to Hammerson yesterday it was not going ahead with the deal,

Hammerson said it will now terminate the purchase agreement and take the £21mln deposit held in escrow.

Quick facts: Hammerson

Price: 26.19 GBX

LSE:HMSO
Market: LSE
Market Cap: £1 billion
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