Real estate giant in talks to dispose of £1bn Bicester Village owner stake

Hammerson is reportedly in talks to sell its 40% stake in Value Retail, the owner of Bicester Village.

Sky News revealed that the owner of the Bullring is looking to offload its stake for £1bn before the end of the year.

Founded by Scott Malkin, Value Retail has sites in China, Frankfurt, Madrid, Barcelona and Milan, with a New York site set to open next summer.

The news come after CEO Rita-Rose Gagne was pressured by activist investors, over asset sales and dividend payments. Gagne saw off the pressure after reinstating payments and making non-core asset sales.

In a statement issued to Sky News, Hammerson said: “Value Retail is an attractive portfolio but, as we’ve previously stated, it’s not part of our core proposition to have an investment in a platform.

“We are not forced sellers and will look to maximise our options at the right time.”