Daily Telegraph:
"Hammerson to exit London portfolio, to increase focus on retail"
"Hammerson to exit London portfolio, to increase focus on retail"
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| Link to Daily Telegraph |
"The company will sell its standing office investments, worth more than £500m, 'over the medium term' and use the proceeds in its retail portfolio.
"... There have been question marks about the future of its London business after
Martin Jepson, head of the division, quit last year and law firm Cameron McKenna
pulled out of a pre-let deal at Principal Place [above].
David Atkins, chief executive, said:
“Following the review of our strategy, we will focus on being the best owner-manager and developer of retail property within Europe." [And sell off all the 'non-Shopping Centre' parts of Brent Cross, as quickly as they can, no doubt.]
Evening Standard:
"Hammerson leaps as it puts its £500m offices up for sale"
"Hammerson leaps as it puts its £500m offices up for sale"
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| Link to Evening Standard |
"Hammerson hung the 'for sale' sign over £500 million of London offices today, as the developer pumps cash into a host of retail assets such as the capital's Brent Cross shopping centre. [ha, bloody ha]
"Atkins [right] insisted Hammerson would get a good price for the buildings, despite a backdrop of sales by Ireland's banks and state-backed Royal Bank of Scotland and Lloyds Banking Group, as they get rid of distressed property loans. The disposals will also be spread over two years, to ensure the firm maximises value."
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| "Ah ! well a-day ! what evil looks Had I from old and young ! Instead of the cross, the Albatross About my neck was hung." (link to Hammerson) |
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