8th Dec 2005 10:22
Hammerson PLC08 December 2005 Hammerson plc - Replacement Announcement This announcement replaces the previous RNS announcement (Reference 3207V)issued at 7.00 a.m today. In the original announcement, the sterling equivalent amount of the acquisitionprice shown in the first paragraph should have read £38.4 million and not £83.4million as stated. In all other respects the announcement is unchanged. Hammerson Acquires Interest in 54-60 rue du Faubourg Saint-Honore, Paris 8e Hammerson plc has acquired a 100% interest in the freehold of 54-60 rue duFaubourg Saint-Honore in Paris for €56.4 million (£38.4 million), inclusive offees, from CCPMA RETRAITE. Located on the prestigious rue du Faubourg Saint-Honore, between rue d'Aguesseauand rue d'Anjou, in the eighth arrondissement, the buildings comprise six blocksof multi-let properties, some of which retain their original 17th and 19thCentury facades. The properties provide 7,000 m(2) (75,300 ft(2)) ofaccommodation, comprising 2,500 m(2) of retail space set across three floors,1,100 m(2) of offices and 3,400 m(2) of residential accommodation. Principal occupiers include Chloe, Comme des Garcons, Fratelli Rossetti and MontBlanc. The properties generate a gross rental income of €2.8 million per annum,of which 75% is in respect of retail occupiers. John Richards, Chief Executive of Hammerson, commented: " This acquisition demonstrates Hammerson's commitment to expanding its businessin France. Located close to the group's current successful development at 9place Vendome, rue du Faubourg Saint-Honore is one of the most prestigiousstreets in Paris for high fashion retailing. The property offers significantopportunities to add value through active asset management." For further information: John Richards, Chief Executive Tel: 020 7887 1000 Gerard Devaux, Managing Director Continental Europe Tel: 0033 1 5669 3000 Chris Smith, Director of Corporate Affairs Tel: 020 7887 1019 [email protected] This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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