{"id":166314,"date":"2020-05-06T11:31:00","date_gmt":"2020-05-06T11:31:00","guid":{"rendered":"https:\/\/www.theindustry.fashion\/hammerson-keeps-21m-deposit-after-retail-parks-sale-falls-through\/"},"modified":"2021-08-06T12:05:40","modified_gmt":"2021-08-06T12:05:40","slug":"hammerson-keeps-21m-deposit-after-retail-parks-sale-falls-through","status":"publish","type":"post","link":"https:\/\/www.theindustry.fashion\/hammerson-keeps-21m-deposit-after-retail-parks-sale-falls-through\/","title":{"rendered":"Hammerson keeps \u00a321m deposit after retail parks sale falls through"},"content":{"rendered":"\n<p>Orion European Real Estate Fund has <strong>walked away from a deal to buy \u00a3400 million of Hammerson\u2019s retail park portfolio.<\/strong><\/p>\n<p>Last month Hammerson confirmed that the prospective buyer had <strong>notified the property developer that it will no longer seek to complete the acquisition<\/strong>\u00a0of seven retail parks.<\/p>\n<p>The two investors\u00a0<strong>exchanged contracts in February to sell seven retail parks<\/strong>\u00a0including the Forge Shopping Park in Telford and Didcot, near Oxford,\u00a0for \u00a3400 million.<\/p>\n<p>A\u00a0<strong>new deadline was set for 6 May 2020<\/strong> and, as the funds were not received, <strong>Hammerson will now terminate the agreement.<\/strong><\/p>\n<p><strong> The termination of the agreement allows Hammerson to take the \u00a321 million deposit held in escrow.<\/strong><\/p>\n<div class=\"td-post-content\">\n<div class=\"newsContent family-paragraph text--large\n                                                        \">\n<p>So far, Hammerson has sold 14 retail parks, generating \u00a3764 million.<\/p>\n<p class=\"col-md-8 offset-md-1\">The sale of the retail parks is part of Hammerson\u2019s current strategy to focus on its larger shopping centres and premium outlets, with the <strong>proceeds of the sale to be used to reduce Hammerson\u2019s debt, which is just under \u00a33 billion.<\/strong><\/p>\n<p>In March, Hammerson revealed that almost <a href=\"https:\/\/www.theindustry.fashion\/hammerson-receives-only-a-third-of-its-quarterly-rent\/\">two thirds of the rent due on quarterly rent day last week did not materialise\u00a0<\/a>as shops around the country had been forced to close their doors due to the COVID-19 crisis.<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p> [&hellip;]<\/p>\n","protected":false},"author":49,"featured_media":138400,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[16042,10585,6,10494],"tags":[11754,15415,5202,5707,11222,19249,8,19579,15941],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Hammerson keeps \u00a321m deposit after retail parks sale falls through - TheIndustry.fashion<\/title>\n<meta name=\"description\" content=\"Orion European Real Estate Fund has walked away from a deal to buy \u00a3400 million of Hammerson\u2019s retail park portfolio. Last month Hammerson confirmed that\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.theindustry.fashion\/hammerson-keeps-21m-deposit-after-retail-parks-sale-falls-through\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Hammerson keeps \u00a321m deposit after retail parks sale falls through - TheIndustry.fashion\" \/>\n<meta property=\"og:description\" content=\"Orion European Real Estate Fund has walked away from a deal to buy \u00a3400 million of Hammerson\u2019s retail park portfolio. Last month Hammerson confirmed that\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.theindustry.fashion\/hammerson-keeps-21m-deposit-after-retail-parks-sale-falls-through\/\" \/>\n<meta property=\"og:site_name\" content=\"TheIndustry.fashion\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/theindustryfashion\/\" \/>\n<meta property=\"article:published_time\" content=\"2020-05-06T11:31:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-08-06T12:05:40+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.theindustry.fashion\/wp-content\/uploads\/2021\/07\/1358AF-oc-5-gallery-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"740\" \/>\n\t<meta property=\"og:image:height\" content=\"450\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Tom Shearsmith\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@theindustryfash\" \/>\n<meta name=\"twitter:site\" content=\"@theindustryfash\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Tom Shearsmith\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.theindustry.fashion\/hammerson-keeps-21m-deposit-after-retail-parks-sale-falls-through\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.theindustry.fashion\/hammerson-keeps-21m-deposit-after-retail-parks-sale-falls-through\/\"},\"author\":{\"name\":\"Tom Shearsmith\",\"@id\":\"https:\/\/www.theindustry.fashion\/#\/schema\/person\/0ef585178e99d23ac0b525337547c9be\"},\"headline\":\"Hammerson keeps \u00a321m deposit after retail parks sale falls through\",\"datePublished\":\"2020-05-06T11:31:00+00:00\",\"dateModified\":\"2021-08-06T12:05:40+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.theindustry.fashion\/hammerson-keeps-21m-deposit-after-retail-parks-sale-falls-through\/\"},\"wordCount\":206,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/www.theindustry.fashion\/#organization\"},\"keywords\":[\"Bullring\",\"Bullring Birmingham\",\"Coronavirus\",\"Covid-19\",\"Finance\",\"financial\",\"Hammerson\",\"Orion Real Estate\",\"shopping centre\"],\"articleSection\":[\"COVID-19\",\"Finance\",\"News &amp; Insight\",\"Retail &amp; Etail\"],\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.theindustry.fashion\/hammerson-keeps-21m-deposit-after-retail-parks-sale-falls-through\/#respond\"]}],\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\/\/www.theindustry.fashion\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.theindustry.fashion\/hammerson-keeps-21m-deposit-after-retail-parks-sale-falls-through\/\",\"url\":\"https:\/\/www.theindustry.fashion\/hammerson-keeps-21m-deposit-after-retail-parks-sale-falls-through\/\",\"name\":\"Hammerson keeps \u00a321m deposit after retail parks sale falls through - TheIndustry.fashion\",\"isPartOf\":{\"@id\":\"https:\/\/www.theindustry.fashion\/#website\"},\"datePublished\":\"2020-05-06T11:31:00+00:00\",\"dateModified\":\"2021-08-06T12:05:40+00:00\",\"description\":\"Orion European Real Estate Fund has walked away from a deal to buy \u00a3400 million of Hammerson\u2019s retail park portfolio. 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