Hammerson acquires full ownership of The Oracle

Hammerson has acquired the remaining 50% interest in The Oracle, Reading, from its joint venture partner, a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA). 

The Oracle

The headline purchase price was £104.5 mln (€121.7 mln), reflecting a stabilised yield of 8.9%, with a promise of future growth potential. 
The Oracle, a premier retail, leisure, and lifestyle destination in the UK, has recently benefited from substantial landlord and occupier investment, including the successful repurposing of the former House of Fraser space to accommodate new offerings from TK Maxx and Hollywood Bowl. 
Hammerson has secured additional key leasing deals, including flagship store upsizes for Zara and Apple, both slated to open in H1 2026, and renewals with premium brands L’Occitane and Space NK. 
Year-to-date performance at The Oracle has seen 30 deals exchanged, representing £4.5 mln (€5.2 mln) of headline rent; occupancy has risen from 93% at the start of the year to 97%; while like-for-like footfall for Q3 was up 10% year-on-year (following new openings), with year-to-date footfall up 3%.
Additionally, Q3 like-for-like sales increased 3% quarter-on-quarter and 17% since Q1, with further benefits expected from upcoming openings, while the property's value has increased by 11% since 2023, reflecting successful repositioning efforts.
Hammerson sees further opportunities to unlock value, particularly in the former Debenhams space and existing cinema block around the riverside, where options for retail, F&B, leisure, and Build-to-Rent (BTR) are being explored.
Rita-Rose Gagné, CEO of Hammerson, commented: “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. There is more to come.”