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JOHANNESBURG - Listed British property development and investment company, Hammerson yesterday said that it had completed the acquisition of the 11000m² shopping centre Cergy 3 adjoining its centre Les Trois Fontaines, Cergy Pontoise, Paris for (R1.28billion) from a private vendor. 

In a statement to shareholders, the company said the acquisition strengthened its investment by increasing the scale of the retail platform. “It also supports an enhanced customer experience by providing the opportunity to manage leasing and consumer initiatives across both adjoining sites,” the company said.

It said Cergy 3 was anchored by retail chain FNAC and had 46 units let to retailers and restaurants including Grande Récré and Foot Locker producing 3.2m of rental income. Hammerson’s share price on the JSE yesterday closed 0.47percent lower at R96.13 a share. 

- BUSINESS REPORT