Further to the announcement of March 23, 2011, Hammerson plc announces that it has exchanged conditional contracts to sell Three Spires, Lichfield, to a client of Orchard Street Investment Management, who will therefore complete the acquisition directly from St. Martins Property Investments Limited.
The on-sale price is £33 million (approx. 37 million), equivalent to the consideration agreed by Hammerson on the purchase of the St Martins retail property portfolio, thereby reducing Hammerson's purchase cost of the St. Martins retail portfolio to £188 million.
Source: Hammerson
