Acquisition of Building

Hammerson PLC
21 May 2007

Hammerson Acquires London Office Building for £71.4 million


Hammerson plc has acquired the freehold interest in Stockley House, 130 Wilton
Road, London SW1 for a total cost of £71.4 million from a private client of DTZ
Debenham Tie Leung.

Completed in 1985, Stockley House is a 6,700 m2 (72,500 ft2) eight-storey office
building adjacent to Victoria Station. It is fully leased to three occupiers,
the Secretary of State for Communities and Local Government, BAA and Balfour
Beatty on leases expiring in 2010 and 2011. The current annual net rental income
is £3.1 million, with an average rental for the office accommodation of £45/ft
(2), and provides a net initial yield of 4.3%.

The property is adjacent to Victoria Station where the company has existing
ownerships and is in discussions with Network Rail for the regeneration of the
station to include a major mixed-use development.

John Richards, Chief Executive said:

'The building has substantial development potential either in isolation or as
part of the company's Victoria Station proposals. Hammerson has an extensive
central London development programme. I believe this is an attractive addition
to our existing development pipeline and that Victoria will show good future
performance due to the improving quality of office supply and good occupier
demand in this important sub-market of the West End.'

Hammerson financed the acquisition from its existing committed bank facilities.

Hammerson was represented by CB Richard Ellis and the vendor by DTZ Debenham Tie
Lung.



Further information:

John Richards, Chief Executive                               Tel:  [phone]

Chris Smith, Director of Corporate Affairs                   Tel:  [phone]
                                                 [e-mail]




Notes to editors

Hammerson plc is a leading European REIT. Established over 50 years ago, the
group has operations in the UK and France. Its high quality real estate
portfolio provides around 1,200,000 m(2) of retail space and 270,000 m(2) of
prime offices and is valued at nearly £7 billion. In recent years the group has
carried out a number of high profile developments in London, most recently the
70,000 m(2) Bishops Square scheme in partnership with the City of London
Corporation. For more information, visit www.hammerson.com.




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