Dundrum-owner Hammerson exits Belfast and small shopping centres

Shopping centre owner Hammerson has sold up its out-of-town shopping centres in Britain and the North for a total of £400m (€477m).

Shopping centre owner Hammerson — best known for the 50% stake it owns in Dundrum — Ireland’s largest shopping mall — has sold up its out-of-town shopping centres in Britain and the North for a total of £400m (€477m).

The property firm had long signalled its plan to retreat from smaller retail sites in suburban locations, which had boomed in recent decades before the rise of online shopping.