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.

Monday, 23rd July 2018, 2:03 pm
Updated Tuesday, 24th July 2018, 5:17 pm
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.

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.

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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.

“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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