Bicester Village could be changing hands as a shopping centre owner is in talks to sell its shares at the popular destination.

Hammerson, the owner of Bicester Village, London’s Brent Cross and Birmingham’s Bullring malls, is reportedly talking to several investors about buying its 40 per cent share in Value Retail.

It is understood the company may be looking to make a deal and offload its stake in Value Retail before the end of the year.

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Speaking to Sky News, a spokesperson for 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.”

There is uncertainty around what this potential new part-ownership will mean for the town.

Nick Mawer, town councillor for Bicester North, said: “It’s a commercial decision.

"The fact of it being sold doesn’t have an impact on us. We’ll just have to watch this space.”

John Broad, district councillor for Bicester West, said: “We don’t know how it’s going to evolve.

"Bicester Village as we know it is a very big employer and tourist destination, and supplier of various donations to the town. They provide a lot of good things.

“It could be a concern depending on what happens, but we don’t know. Bicester Village has a huge impact on Bicester generally. It’s in all the tourist and local plans.

“I would hope this partial takeover is just more finance and more opportunities rather than a loss.”

Value Retail includes multiple shopping outlets, with those in Suzhou and Shanghai in China sharing the Bicester Village brand name, while others are located in Frankfurt, Madrid, Milan, Barcelona and other cities.

Bicester Advertiser: Shoppers arrive at Bicester Village following the 2017 expansion The company’s latest site, Belmont Park Village in New York, is due to open in the summer of next year.

Successful real estate businessman Scott Malkin founded the company, and owns a large number of shares.

Hammerson’s share in Value Retail is understood to be valued at about £1.2bn, but Sky reported the company may sell at a discount of that figure.

If the sale is made, it would be the latest move under chief executive Rita-Rose Gagne, who is working to reshape the company.

The shopping centre giant sold its 50 per cent stake of the Croydon shopping centre redevelopment to Westfield owner Unibail-Rodamco-Westfield at the end of April earlier this year.

Value Retail has been approached for comment and Hammerson declined to comment.


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This story was written by Matthew Norman, he joined the team in 2022 as a Facebook community reporter.

Matthew covers Bicester and focuses on finding stories from diverse communities.

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