There is no news yet from real estate investment trust Hammerson on its proposed sale of its London office portfolio, but the group did say there has been a high level of interest in the assets.
In its interim management statement, Chief Executive David Atkins revealed that during the first quarter of 2012 the group agreed leases with rents in excess of estimated rental value, while occupancy remains ahead of management's 97.0% target at 97.1%.
While acknowledging that global macro uncertainty will continue to have a major influence on property markets, the management believes that "occupier and investment demand for retail space will continue to be concentrated on modern, well maintained properties in the best locations."
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The group also unveiled an offer to buy back up to €200m of its €700m of unsecured bonds which carry a coupon of 4.875% and are due to be redeemed in 2015.
More to follow ...
JH
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