Hammerson mulling sale of VIA Outlets stake

Hammerson confirmed on Monday that, following recent press speculation, it is in advanced discussions on the terms of a possible disposal of its 50% interest in VIA Outlets to its joint venture partner APG.

The FTSE 250 retail property investor said it was also considering a possible equity raise by way of a rights issue.

It said it was continuing to take “proactive measures” around managing its cost base and cashflow, and in recent weeks secured approval for the issue of up to £300m under the Covid Corporate Finance Facility (CCFF) from the Bank of England.

“Following the reopening of its flagship destinations across Europe, footfall and sales continue to improve, and third quarter rent collection in the UK excluding monthly payments and deferrals has increased to over 30%,” the Hammerson board said in its statement.