Hammerson sells retail parks to cut exposure to Brexitland

UK and Europe shopping centre owner Hammerson has clocked up the largest sale of UK property in the past decade, letting go of seven retail parks as it decreases its exposure to Brexit-hit Britain.

Hammerson said on Friday it had sold the assets for £400m (R7.8bn) to Orion Real Estate Fund as part of its strategy to exit the retail parks sector over the medium term, to focus on flagship assets, premium outlets and city quarters in major European cities...