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.”
Opportunity to acquire a well-established builders merchants located in South Wales, offering a robust reputation and a strong customer base.
An exciting opportunity has arisen to acquire a group of established cafes and bars situated in prime locations across three vibrant areas of Bristol.
LEASEHOLD
An exclusive chance to acquire a network of 17 well-established convenience and off-licence stores located in the North of England.
26
|
Jun
|
Building maintenance and repair firm targeting expansion after acquisition | DIVISION SALE
A North Yorkshire-based company that provides maintenance an...
26
|
Jun
|
Fairstone adds 100th firm to Downstream Buy-Out model | BUSINESS SALE
Wealth management firm Fairstone has added the 100th firm to...
26
|
Jun
|
Offers around £5m sought as luxury holiday lodges brought to market | COMMERCIAL PROPERTY
More than 30 luxury holiday lodges at Belton Woods Hotel, Sp...
28
|
Feb
|
Hammerson sells Leeds shopping centres for £120m | COMMERCIAL PROPERTY
Hammerson Plc, a UK-based real estate investment trust (REIT...
29
|
Nov
|
Hammerson in talks over cut-price Silverburn sale | COMMERCIAL PROPERTY
Retail property firm Hammerson is in talks over a potential ...
16
|
Apr
|
Owner of Cabot Circus shopping centre in sale talks | BUSINESS SALE
The owner of Cabot Circus shopping centre in Bristol has con...
Business Sale Report is the complete resource for finding genuine acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
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.