Hammerson Plc (LSE:HMSO) is in detailed talks to sell its stake in Value Retail PLC, owner of the Bicester Village retail complex, for about £1 billion. Sky News has learnt that Hammerson, the FTSE-250 owner of London's Brent Cross and Birmingham's Bullring malls, is talking to a number of investors about buying its interest in Value Retail. Rival property industry executives said on 13 November 2023 that they understood that Hammerson could strike a deal to offload its roughly 40% stake in Value Retail before the end of the year.

In a statement issued to Sky News, Hammerson said: "Value Retail is an attractive portfolio but, as we've previously stated, it's not part of our core proposition to have an investment in a platform. "We are not forced sellers and will look to maximise our options at the right time." A sale of its stake in Value Retail has been on the cards for some time, but news that it may be announced within weeks is likely to please shareholders.