Hammerson Sells Off London Offices

Major property owners, Hammerson, are set to sell their London offices to Canadian firm, Brookfield, reports have confirmed.

The portfolio has sold for £518 million and has left Hammerson with next to no office space in its portfolio – allowing the company to fulfil its pledge to focus entirely on retail in the coming years, across shopping centres, designer outlets and retail parks.

CEO David Atkins of Hammerson says: “In our strategic review announced earlier this year we identified the opportunity to enhance returns by focusing our energy and capital on the successful sectors of retail which cater to consumers’ increasing desire for experience, convenience and value.

“I am delighted that we have been able to achieve our goal of becoming a pure retail business earlier than anticipated by arranging a single transaction for the majority of our London offices which secures excellent value for shareholders.”

Author: Julia | | 0 Comments

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