Investec assisted Hammerson PLC in raising £139 million in connection with the acquisition of 50% of Bullring and Grand Central
About the deal
Investec assisted Hammerson PLC in raising 10% of its existing issued share capital through an institutional placing and an accelerated bookbuild, in connection with the acquisition of 50% of Bullring and Grand Central owned by its JV partner for a net cash consideration of £319 million allowing the company to take full control of this super prime real estate destination. The placing comprised of a non-pre-emptive placing of around 48.3 million new ordinary shares in the capital of the company.
Located in Birmingham, Bullring is one of the UK’s most highly regarded retail-anchored and leisure destinations with its much loved bronze Bull, recognised by Green Street as one of only five A++ rated assets in the UK. Grand Central further enhances Birmingham’s retail landscape with a mix of premium fashion and an extensive choice of restaurants, many of which are first time locations in the city. As well as direct access to the busiest train station outside of London, New Street Station, Grand Central is linked to Bullring via LinkStreet.
About Hammerson PLC
Hammerson is the largest UK-listed owner and manager of prime retail and leisure centers in the UK, France and Ireland. Its top ten flagship destinations all rank in the top 20 of all retail venues in their respective geographies and in the top 1% where retail spend is concentrated. The total property portfolio is valued at £3.0 billion as at 30 June 2025.
Our role
Investec and Peel Hunt acted as Joint Bookrunners in connection with the Placing. Morgan Stanley acted as Global Co-ordinator, Financial Adviser and Joint Bookrunner in connection with the Placing.
