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Commercial Property News
Harbour Exchange Square to go up for sale
Hammerson is set to put Harbour Exchange Square in London up for sale on the commercial property market.
The real estate investment trust (Reit) is looking to sell the site, located in the Docklands area of the capital, for £150 million, Property Week reports.
It is said to be looking to dispose of the asset following a review of its portfolio and will use the money raised to invest in new initiatives.
Jones Land LaSalle has been instructed to put the building on the market and, if the £150 million asking price is met, it will generate a net initial yield of 8.5%.
The business property development consists of two 16-storey buildings and measures a total of 485,000 sq ft.
Hammerson purchased it for £76.9 million in 2009.
The Reit's portfolio of commercial property in UK and France is worth in excess of £5 billion.
It includes over 1.6 million sq m of retail space and around 170,000 m sq of offices.
The real estate investment trust (Reit) is looking to sell the site, located in the Docklands area of the capital, for £150 million, Property Week reports.
It is said to be looking to dispose of the asset following a review of its portfolio and will use the money raised to invest in new initiatives.
Jones Land LaSalle has been instructed to put the building on the market and, if the £150 million asking price is met, it will generate a net initial yield of 8.5%.
The business property development consists of two 16-storey buildings and measures a total of 485,000 sq ft.
Hammerson purchased it for £76.9 million in 2009.
The Reit's portfolio of commercial property in UK and France is worth in excess of £5 billion.
It includes over 1.6 million sq m of retail space and around 170,000 m sq of offices.
Fri, 26th Mar 2010