8th Jan 2016 07:11
LONDON (Alliance News) - FTSE 100-listed property developer Hammerson PLC on Friday said it has sold the Villebon-2 retail park in the south of Paris to a consortium of French institutional investors for EUR159.0 million.
The retail park, which Hammerson acquired in 2005, has 46 tenants and generates an annual passing rent of EUR8.5 million. It is currently 99% occupied.
Hammerson expects the deal to close in the first half of 2016.
"We continue to see good investor demand for well-positioned assets in France and are pleased to have capitalised on this demand to secure a price that is well ahead of the latest book value," said Hammerson Chief Executive David Atkins.
By Sam Unsted; [email protected]; @SamUAtAlliance
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