Hammerson says it has exchanged contracts to sell its interest in Grand Maine shopping centre situated to the south west of Angers, to a leading French institutional investor for a net €63.2m (£45.3m).
Grand Maine comprises 8,600 sqm of retail space with 57 units over two levels, and is adjacent to a large Carrefour supermarket. The centre was refurbished by Hammerson in 2013 and is well let with occupancy of 95%, generating gross rental income of €3.3m.
Hammerson say that since they bought Grand Maine in 2007, they have introduced a number of new brands and renovated the interior to improve the design and façade of the centre. This sale and that of Bercy 2, Paris are in response to strong investor demand for retail real estate assets.
HMSO : Hammerson sells Angers shopping centre