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Hammerson eyes £80M sale of Kent, UK, retail parks

Hammerson Plc is selling its Westwood and Westwood Gateway Retail Parks in Kent, U.K., according to sources cited by CoStar U.K.

The company is said to be in discussions with BMO Real Estate Partners for an £80 million sale of the retail parks, reflecting a 6.5% yield.

Hammerson bought the 181,000-square-foot Westwood and neighboring 87,000-square-foot Westwood Gateway Retail Parks in 2002. The Westwood Retail Park underwent an expansion in 2009 for the creation of a 57,000-square-foot terrace for Dunelm Mill.

The parks house a total of 20 tenants, including Matalan, Homebase and Sports Direct.