Hammerson sells London offices

Office design news from Morgan Lovell

Published on 23-06-2010

Hamerson has sold its office premises at 1&2 Harbour Exchange in the London Docklands.

It made a 74 per cent return on its investment after the property was purchased for £77 million in 1999.

The premises offer 480,000 sq ft of office interior space and MGPA Europe Fund III paid £134 million for the property. Exchange of contracts on the building have gotten underway and the firm hopes to complete the sale by September.

Chief executive of Hammerson David Atkins said: "Harbour Exchange has been a good investment for the company over the last decade. However, I believe the capital can be better deployed in other opportunities."

Hammerson is a leading European real estate company and specialises in developing and investing in up and coming high-quality properties.

It is a FTSE 100 company and has a present office portfolio totalling in excess of £5.12 billion in the UK and France.

Posted by Ian Johnson.