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Construction of a Shoreditch skyscraper has been delayed

Filed under: News — Tags: CMS Cameron McKenna, Hammerson, London office space, office space development stalled, office space in Shoreditch, Shoreditch office development delayed — Beth Hepple @ 9:06 am

The Principal Place development has been delayed after CMS Cameron McKenna pull out.

The law firm have said that financial uncertainty is the reason behind their decision to reconsider.

The construction of an office tower block in Shoreditch has been stalled after the development’s main potential tenant bowed out, citing financial uncertainty.

CMS Cameron McKenna is said to have pulled out of talks to pre-let 200,000 sq ft of the tower which was set to be developed in April by Anglo-French designer Hammerson. (more…)

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Hammerson’s London Wall Place development approved by City of London planning committee

Filed under: News — Tags: Barbican office space, City of London planning and transport committee, Hammerson, London office space, London Wall, London Wall Place scheme, MAKE architects London Wall Place scheme, St Alphage Church Tower — Amy Edwards @ 8:08 am

The City of London’s planning committee have this week approved the development plans for Hammerson’s London Wall Place scheme.

The St Alphage House tower and the podium on London wall will be knocked down for the 500,000 sq ft £350 million office space development.

Developer Hammerson have this week been granted planning approval from the City of London’s planning and transport committee for their new £350 million London Wall Place development.

Following the committee’s approval of the plans, the scheme will now be put before London Mayor Boris Johnson for final approval in the next two weeks. As part of the project, the St Alphage House tower and the podium on London Wall will be pulled down to make space for the new 500,000 sq ft development. (more…)

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Schroders shortlists London office space developments for new headquarters

Filed under: News — Tags: 100 Bishopgate, Great Portland Estate, Hammerson, headquarters, London office space, Schroders plc — Amy Edwards @ 8:24 am

As global asset management company Schroders PLC draw up a shortlist of potential locations for its new headquarters, London office space developers remain optimistic and excited for future business moves.

Their shortlist includes developments such as office space within Great Portland Estates, 100 Bishopsgate and The Pinnacle; however these are only a handful of possible locations.

(more…)

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Hammerson return to profit as demand for London office space grows

Filed under: News — Tags: exchange tower, Hammerson, increased demand, leadenhall court, London Docklands, London office, profit, results — Amy Edwards @ 10:31 am

According to figures from property firm Hammerson, 96% of space was occupied at the end of Q2 2010 as compared with 95% at the end of Q4 2009, also showing that like-for-like rental income had grown by approximately 5%.

This has provided a significant benefit to the firm who have seen a decent return to profit, from a loss of £819 million in Q2 2009, despite rental revenues being down 10.5% at £140m.

(more…)

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Exchange Tower sold to MPGA Europe by Hammersmith for £134.6 million

Filed under: News — Tags: Hammerson, London Docklands Exchange Tower sold, MPGA Europe Fund III buys London office space for £134.6 million — Javaria @ 9:31 am

Hammerson has sold its London Docklands Exchange Tower to MPGA Europe Fund III for £134.6m.

The real estate investor will make a 74 per cent return on the 16-storey property. (more…)

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Hammerson to sell office space in Docklands

Filed under: News — Tags: Bishopsgate, Bishopsgate office space, construction, developments, Docklands, Docklands office space, FTSE 100, Hammerson, Hammerson property developers, London office space, office sale, office space in London, property development, selling offices — Adam @ 2:01 pm

Due to the recession and uncertainties in the market, Hammerson property developers have decided to sell some of their office assets.

Hammerson, which is a FTSE 100 company, is attempting to sell the £150m Harbour Exchange Square in the London Docklands and has further plans to become a leading seller of London office space.

However with rental price increases since August 2009 and an increase of competitors there are serious concerns that the decision may come at a bad time.

(more…)

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Hammerson’s Docklands sale plan

Filed under: News — Tags: commercial property, Hammerson, Harbour Exchange Square, Jones Lang LaSalle, london, London Docklands, London office space, London offices — Krista Harrison @ 9:00 am

Real estate investment trust Hammerson is to test the water for investment interest by putting Harbour Exchange One and Two onto the market.

They are reported to be instructing Jones Lang LaSalle to put the building on to the market for £150 million, representing a net yield of 8.5% initially. (more…)

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