British retail property giant Hammerson announced its latest acquisition on Thursday and said that it now owns all of Southampton shopping centre Westquay.

The company has completed the purchase of the remaining 50% stake in the location for £135 million, which gives it a 100% interest in what’s a leading retail and leisure destination situated on England’s South Coast.

The purchase is being funded by the proceeds received from Hammerson’s recent disposal of its stake in Value Retail. It sold its holding in the owner of Bicester Village this summer for around £600 million.

Under pressure from shareholders, Hammerson has been selling off valuable non-core operations in order to invest in its core business and it clearly sees Westquay as a major opportunity.

Rita-Rose Gagne, CEO of Hammerson, said: “This transaction is in line with our stated strategy. Combined with our recently enhanced funding position and disciplined approach to capital allocation, we are well placed to deliver growth and value creation.”

Westquay covers over 95,000 sq m of space and has a strong line-up of major fashion names. They include Boss, Flannels, H&M, Hollister, John Lewis, Next, M&S, Quiz, Sunglass Hut, Superdry and Tommy Hilfiger.

In beauty there’s also Kiki Milano, Lush, The Perfume Shop, Rituals and Space NK.