Property giant intends to use proceeds to reduce debt and reinvest in core prime urban retail property
Kildare Village : Hammerson is selling its 41 per cent stake in designer outlet malls, which is home to more than 120 boutiques including Armani, Michael Kors, and Mulberry.
This includes a 41 per cent in the Kildare Village designer outlet, which opened in 2007 and is home to more than 120 boutiques including Armani, Michael Kors, and Mulberry. The portfolio also includes La Roca Village in Barcelona, the famous La Vallée Village in Paris and Bicester Village in England.
Hammerson plans to use the proceeds from the deal to reduce debt and reinvest in core prime urban retail property, launch a £140 million share buyback programme, representing 10 per cent of its current market value, and increasing its dividend payout ratio to 80-85 per cent of adjusted earnings. The value of the Irish portfolio also includes 50 per cent stakes in the Ilac Centre in Dublin city centre and the Pavilions shopping complex in Swords, north Co Dublin, as well as a mixed-use scheme planned for its landmark O’Connell Street site.
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Mark-down M50 shopping mall sales set a floor as €600m Dundrum loans loomSlumping prices come even as occupancy levels remain high
Read more »
US private equity giant weighs in with bid of up to €600m for Blanchardstown CentreGoldman Sachs looks to exit State’s largest shopping centre
Read more »
Gardai launch search appeal for missing Kildare teenagerCaoimhe Prendergast, 15, has been missing from Athy, Co. Kildare since Wednesday evening
Read more »
Two arrested following €1.25m cannabis seizure in KildareGardaí also found suspected cocaine valued at €12,000 in follow-up search
Read more »
Gardai seize suspected firearm from hotel housing asylum seekers in KildareThe weapon is understood to have been found in one of the vents in a room at the Eyre Powell Hotel in Newbridge in Kildare on Friday.
Read more »
Garda jailed for three years on charges of corruption and deceptionJoseph Doyle (39) from Kilcock, Co Kildare, guilty of an abuse of power, says judge
Read more »