Hammerson is set to take full control of Brent Cross, one of Greater London’s most prominent shopping centres, as part of its ongoing strategy to strengthen its retail portfolio.

The real estate investment trust has announced its intention to acquire the remaining 59% stake in the centre, currently held by Abrdn’s UK Shopping Centre Trust (SCUT), in a deal valued at £200 million. Hammerson already holds a significant interest in Brent Cross and, including the SCUT units it has purchased or agreed to purchase, now controls more than 90% of the asset.

The acquisition process is still underway, with Hammerson confirming that further updates will be provided in due course.

Brent Cross boasts over 914,000 square feet of retail space across two floors, featuring more than 120 shops and 30 cafés and restaurants. Anchor tenants include M&S, Fenwick, and Zara, with a diverse line-up of brands such as Miele, Superdrug, Reserved, Phase Eight and Ray-Ban also present.

This move follows Hammerson’s acquisition of the remaining 50% stake in Westquay, Southampton, last autumn, signalling a continued focus on consolidating ownership of key retail destinations within its portfolio.

Building, Design & Construction Magazine | The Choice of Industry Professionals