Silverburn shopping center was sold at 4% discount
Silverburn shopping center was sold at 4% discount

Silverburn shopping center was sold at 4% discount

Hammerson and CPPIB have agreed to sell the shopping centre to entities affiliated with Henderson Park and Eurofund.
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Dimitris I. Papadomarkakis
17.12.2021

Silverburn shopping centre on Glasgow’s south side is being sold for £140 million by property group Hammerson and Canada Pension Plan Investment Board.

The pair acquired Silverburn, at Pollok, for nearly £300million through a 50-50 joint venture in 2009.

Hammerson and CPPIB have agreed to sell the shopping centre to entities affiliated with London-based private equity real estate manager Henderson Park and Eurofund.

In a statement to the London Stock Exchange this week, Hammerson said: “This represents a 4% discount to 30 June 2021 book value of £147million, and a net initial yield of 9.3%.”