Real estate investment trust Hammerson is to sell its offices investments to focus on its retail operations in the UK and France.
The change in strategy was announced with the company's 2011 results in which it unveiled a 7.1% increase in adjusted net asset value per share (NAV) on a European Public Real Estate Association (EPRA)-sanctioned basis. NAV at the end of 2011 stood at 530p versus 495p at the end of 2010. The group has announced a 5.7% increase in the full year dividend to 9.3p from 8.8p in 2010.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
-
8 of the best properties for sale with award-winning gardensThe best properties for sale with award-winning gardens – from a Victorian Gothic rectory in Hampshire, to a Georgian house in Kent with gardens designed by multiple Royal Chelsea Flower Show gold medallist Roger Platts
-
How does the Lifetime ISA work? Key LISA rulesWhat is a Lifetime ISA (LISA) and how much could the government bonus boost your savings by? We look at the perks and the pitfalls.
