News - Midlands
Hammerson "in talks" to buy West Mids property trio
Three West Midlands shopping centres are expected to be acquired by property investment trust Hammerson, according to reports. Sites in Rugby, Lichfield and Coventry have been earmarked as part of a reported £250m deal with a Kuwait-backed investment company.
According to speculation, Cathedral Lanes shopping centre in Coventry and Lichfield-based Three Spires would be acquired by the property giant, alongside a Rugby-based mall. In total, six UK shopping centres are expected to be taken in the deal.
The centres are all currently owned by Kuwaiti property arm St Martins. No deal is expected to be finalised until the New Year.
Last month, London-based Hammerson announced its intention to acquire Wreckin Retail Park in Telford for £42m.