Hammerson Sells Exchange Tower To MGPA Europe Fund 3

22nd Jun 2010 09:19

LONDON (Dow Jones)--Hammerson PLC (HMSO.LN) said Tuesday it exchanged conditional contracts for the sale of Exchange Tower in London's Docklands. MAIN FACTS: -The purchaser is MGPA Europe Fund III, and Hammerson will receive proceeds of GBP134 million, net of GBP1 million disposal costs. -Completion is scheduled for September 2010. -The 16 storey office tower at 1&2 Harbour Exchange was originally acquired by Hammerson in 1999 for a consideration of GBP77 million. -The building comprises 45,000 m2 of office space let to a range of tenants. -At Dec. 31, 2009 Harbour Exchange was valued at GBP131 million and had passing rents of GBP10.7 million. -Shares at 0818 GMT down 0.9 pence, or 0.3%, at 363.1 pence. -By Iain Packham, Dow Jones Newswires; 44-20-7842-9269; [email protected] (END) Dow Jones Newswires June 22, 2010 04:19 ET (08:19 GMT)