Hammerson Acquire 10 Gresham Street Office Building
Hammerson, one of EuropeΓÇÖs leading commercial property investors and developers, have acquired a prime office building in the City of London for ┬ú183m, adding to its existing office space portfolio of grade A office developments throughout Central London.
The new building, 10 Gresham Street, comprises of 260,000 sq. ft. of high quality office space, retail and supplementary accommodation spread over eight floors and has Lloyds TSB Bank as its principle occupier.
Part of a joint venture with the Canada Pension Plan Investment Board (CPPIB), the acquisition of the 10 Gresham Street office building will add to HammersonΓÇÖs existing office interests in Mayfair and Bishopsgate.
In a press release published on the firmΓÇÖs website, David Atkins, Chief Executive of Hammerson explained:
ΓÇ£This acquisition is in line with our strategy to capitalise on attractive opportunities in the London office market. Given the existing lease profile and relatively low rental base this offers an excellent opportunity for us to increase value by using our asset management skills.ΓÇ¥