Hammerson bets on Dublin with £1bn plot

SHOPPING centre giant Hammerson took a £1 billion punt on Ireland today, snapping up the nation’s biggest retail destination as a Brexit vote overshadows prospects at home.

The company — part owner of Brent Cross and Croydon’s Centrale — has bought a portfolio of assets including the Dundrum shopping centre in southern Dublin, in a joint venture with Germany’s Allianz Real Estate.

Hammerson boss David Atkins said: “Against the current backdrop of UK market volatility and political uncertainty, the Irish economy continues to hold a number of competitive advantages as a European hub for business.”

The move comes as UK consumer confidence fell at its fastest rate for 21 years after the referendum, market research firm GfK said.