Swindon & Wiltshire News
Hammerson acquires full control of Reading’s The Oracle
Urban real estate operator Hammerson has acquired full control of The Oracle shopping centre in reading for £104.5 million.
The company acquired the remaining 50 per cent of the retail destination from its joint venture partner, a wholly owned subsidiary of the Abu Dhabi Investment Authority.
The Oracle is one of the top retail, leisure and lifestyle destinations in the UK.
In recent years it has repurposed the former House of Fraser and welcomed brands including TK Maxx and Hollywood Bowl with Zara and Apple both due to open in 2026.
Occupancy stands at 97 per cent. Like-for-like footfall for Quarter 3 (July to September) was up 10 per cent year-on-year.
Rita-Rose Gagné, CEO of Hammerson, said: “We have seized the opportunity to gain full control of The Oracle, an asset in transition, to capture the growth opportunities ahead.
“This represents our fourth JV buyout in a little over a year, as we continue to act decisively and execute our growth strategy at pace.
Our recent investments at The Oracle have driven an uplift in footfall. There is more to come.”
