Hammerson has agreed to acquire the majority stake in Saint Sébastien shopping centre in Nancy, North East France, from AXA Real Estate on behalf of one of its clients for £109 million. The acquisition underlines Hammerson’s commitment to generating income growth through investment in prime retail destinations in the UK and France.The 24,000m² centre comprises 105 shops and restaurants with over 1,000 car park spaces, and is anchored by Monoprix, Intersport, C&A and Sephora. It is centrally located in the historic city of Nancy, the principal city between Paris and Strasbourg. Nancy is one of France’s top 20 cities and the shopping centre adjoins ‘Nancy Grand Coeur’, the town centre regeneration area which is planned to create over 200,000m² of new offices and retail, plus over 700 new homes. Saint Sébastien, with an annual footfall of 8 million, is the only shopping centre in central Nancy, and is the dominant retail centre within the wealthy 45 minute catchment area.
Source : Company