Wed, 20 Jun 2012 | COMMERCIAL PROPERTY
Property developer Hammerson is to redefine its approach to commercial property and is moving away from the office market in order to specialise in retail property.
As part of this plan, the firm has sold the majority of its office portfolio to Brookfield Office Properties. Included in its assets are 99 Bishopsgate, a 50 per cent stake in 125 Old Broad Street, Leadenhall Court and the development site at Principal Place; all located in London.
The sales should bring in around £518 million for Hammerson, which it intends to invest in retail developments and acquisitions in order to accelerate a number of projects currently underway in UK retail parks.
It is also looking to invest in prime regional shopping centres and is refurbishing Queensgate in Peterborough while also looking outside the UK at its Les Terrasses du Port site in Marseille, which is due to open in the spring as a retail and leisure space.
Chief executive of Hammerson David Atkins commented: “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.”
An established MOT and service centre positioned in the vibrant community of Portslade, Brighton, presents a unique opportunity for investment in East Sussex's automotive service industry.
A licensed restaurant in Brighton, East Sussex, featuring alfresco seating for 60 covers, is available for purchase.
LEASEHOLD
Opportunity to acquire a maintenance grooming equipment business in Brighton at a reduced price for a quick sale.
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.