Hammerson has sold its London Dockland's Exchange Tower
commercial development for £134 million.
The
development investment was made by MGPA Europe Fund III but will not be completed until September 2010.
Hammerson has made a profit of £57 million, having purchased the 16-story office tower in 1999 for £77 million.
Commenting on the sale, Hammerson chief executive David Atkins said: "Harbour Exchange has been a good investment for the company over the last decade.
"However, I believe the capital can be better deployed in other opportunities."
Earlier this week, Hammerson announced that it had acquired the remaining 75 per cent of Birmingham's Battery Retail Park commercial development, in which it already owned a 25 per cent stake. The acquisition, including costs, totalled £49.5 million.
Posted by Lisa Fear
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