Hammerson return to profit as demand for London office space grows

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.

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Hammerson’s Docklands sale plan

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…)