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HAMMERSON BIDS ADIEU
Citation-ready fact
Hammerson sold its Les Trois Quartiers property in Paris to MGPA for €21 million (£18.2 million).
21 million euros · sale price18.2 million pounds · sale price (GBP)
Hammerson, property company
Citation-ready fact
The Les Trois Quartiers property was valued at €275 million as of 31 December 2008.
275 million euros · valuation
PROPERTY company Hammerson yesterday said it had sold its Les Trois Quartiers office and retail property in Paris to private equity real estate investor MGPA for €21m (£18.2m). The property was valued at €275m at 31 December 2008 and commands rents of €19.8m a year. The group has been trying to dump Les Trois Quartiers and its largest asset, Bishops Square in London, since September to reduce its debt pile.
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