Hammerson moves in to buy City of London office development site
Real estate company Hammerson is looking to buy a prime development site in the City of London, which is due to include 500,000 sq ft of office space.
According to Property Week, the site was originally due to be secured as a head office for JP Morgan, but Hammerson is said to have made their intentions clear after the initial negotiations fell through. JP Morgan instead decided to create a 1.7m sq ft headquarters at Riverside South in Canary Wharf.
Hammerson are also said to be retaining an option to buy St Alphage House from the City of London corporation.
This is further positive news for the City of London commercial property market, following recent news that CB Richard Ellis are selling its City of London office portfolio.
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