Hammerson: sells 50% of a shopping centre to GIC.

(CercleFinance.com) - Hammerson will sell 50% of the Watermark shopping centre, which is found in Southampton, to the GIC Asian sovereign wealth fund for 48.
5 million pounds (about 57 million euros).

The British commercial property company said the Watermark site, which has 17,000 m2 of retail and catering space, has just been opened to the public, as an extension to the Westquay shopping area.

With 95% of the centre leased, it generates an annual rent of 5.5 million pounds (about 6.5 million euros). The transaction is scheduled to be completed by the end of this year.

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