Hammerson in talks to sell £140m stake in Glasgow’s Silverburn

Hammerson has confirmed it is in discussions to sell its 50% stake in Silverburn for £140m. Hammerson owns the flagship Glasgow destination in a 50/50 joint venture with CPPIB. The troubled retail specialist said in August that “disposals of non-core assets remains a near-term priority” as it struggles to “strengthen the balance sheet, re-balance the portfolio and to enable the group to recycle capital for investment”. Hammerson said: “There can be no certainty that a transaction will take place.” However, the company confirmed that the price under discussion is £140m. As this would represent a class 2 transaction, Hammerson said it “will provide a further update in due course, if appropriate”. To send feedback, e-mail piers.wehner@eg.co.uk or tweet @PiersWehner or @EGPropertyNews Photo: Billy McCrorie/Wikimedia Commons