Fife retail park sold as part of £164m deal

Kirkcaldy's Fife Central Retail Park has been sold as part of a £164 million deal.
Part of the Fife Central site, which was acquired by Hammerson in 2005. Picture: ContributedPart of the Fife Central site, which was acquired by Hammerson in 2005. Picture: Contributed
Part of the Fife Central site, which was acquired by Hammerson in 2005. Picture: Contributed

Hammerson made the sale, along with a retail park in Bristol, to new owners Capreon.

Fife Central was acquired by Hammerson in 2005. It covers a total of 30,200 square metres, is 95 per cent let and anchored by B&Q, Sainsbury’s, M&S Simply Food and Next.

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Hammerson said it had been actively managing the scheme during its ownership, delivering an extension and implementing “key asset management initiatives”, including repurposing space formerly occupied by Homebase to create a further four retail units and two restaurants.

The deal bring Hammerson’s total proceeds from disposals this year to £300m.

Chief executive David Atkins said: “We continue to see opportunities to dispose of selected assets in order to better deploy capital on behalf of our shareholders.

“With £300m of sales achieved this year, we are already over half-way to reaching our planned disposal target for 2018.

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“We look forward to providing a further update on disposals and capital deployment when we report our half-year results.”

Capreon were asked to comment but declined the opportunity.

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