Hammerson (HMSO) continued to shed assets in order to bring down the portfolio’s loan-to-value (LTV) ratio during the first-half, disposing of 90 per cent of this year’s targeted £500m. Contracts have also been exchanged with Axa to sell 75 per cent of Paris shopping centre Italie Deux, and the forward sale of 75 per cent of the Italik extension for a total of £423m, equivalent to a 4.1 per cent net initial yield. That transaction reduced the LTV ratio from 40 per cent to 37 per cent.
IC TIP:
Hold
at
267p