London pre-open: Firm start foreseen

8th Jul 2011 07:41

There has been a small flurry of activity from property groups, making Friday morning a bit more action packed than normal.Both Hammerson and British Land have announced deals. Property company British Land is to buy a portfolio of 17 freehold and leasehold racket clubs from French bank Societe Generale for £179m. The clubs will be let on new 25-year leases to Virgin Active pending Virgin's acquisition of the Esporta business. Real estate investment trust Hammerson has acquired a 999-year leasehold interest in 99 Bishopsgate, in the heart of London's financial district, for £100m, including costs.  House builder Bovis completed marginally fewer sales in the first half of this year than last, although the average sales price increased by around 3%. Completions eased to 801 from 803 in the first half of last year, but net private reservations in the first half of the year rose 16% to 802 from 691 the year before.City traders predict the FTSE 100 will open around 25 points up from yesterday's close of 6,055.--jh