Hammerson (LSE:HMSO) has sold £69m of non-core assets and used the proceeds to acquire the remaining 50% of the Ilac shopping centre in Dublin city centre that it did not already own, taking full control of the landmark destination.
The disposals include several central Dublin land holdings sold to Transport Infrastructure Ireland, the state body developing the city's planned Metrolink rail network, as well as a further unspecified non-core investment.
Combined with the Leeds disposal completed in January, total non-core divestments for 2026 reach £75m, which Hammerson says represents a substantial premium to book value across the portfolio.
The company is retaining certain other Dublin holdings, which it says preserve strategic options across development, partnerships and future value realisation.
"These transactions are further testament to our focus on driving value from development activity and non-core disposals while recycling capital into JV buyouts," said chief executive Rob Wilkinson, adding that the Ilac acquisition reflects the company's commitment to "schemes that are exceptional hubs for brands and experiences."
Shareholder approval was not required for the transactions, and both the disposals and the Ilac buyout have already completed.
