Hammerson has taken full ownership of The Oracle in Reading by acquiring joint venture partner Abu Dhabi Investment Authority’s 50% stake in the scheme for £104.5m.
The company has completed 30 deals at The Oracle in the year to date, driving occupancy from 93% at the start of the year to 97%.
In recent years, Hammerson has repurposed the former House of Fraser department store to accommodate TK Maxx and Hollywood Bowl and has secured larger lettings from Zara and Apple, which are due to open their upsized units in H1 26.
Further opportunities to unlock value at The Oracle include the site of the former Debenhams and existing cinema block around the riverside, where Hammerson is exploring retail, F&B, leisure and BTR options.
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, sales and leasing with the recent openings of TK Maxx and Hollywood Bowl. We expect a further boost from the opening of flagship stores for Zara and Apple in early 2026. There is more to come.
“Combined with our continued strong performance and acquisition of The Oracle, we expect further growth in 2026 and 2027 as the full benefits of our repositionings and acquisitions come through, underpinning the group’s medium-term guidance of an 8% to10% EPRA EPS CAGR.”
