Hammerson sale plan

HAMMERSON is in talks over the sale of the Silverburn shopping centre near Glasgow for around £140m.

The retail property company yesterday confirmed talks over the disposal of the site, which is a 50-50 joint venture between Hammerson and the Canada Pension Plan Investment

Board (CPPIB). Hammerson bought Silverburn for around £300m in 2009.

But the owner of Birmingham’s Bullring has been weighed down by dwindling valuations for retail properties in recent years.

The firm said in August its short-term priority is to sell non-core parts of its real estate portfolio.