Acquisition

Hammerson PLC 08 December 2005 Hammerson Acquires Interest in 54-60 rue du Faubourg Saint-Honore, Paris 8e Hammerson plc has acquired a 100% interest in the freehold of 54-60 rue du Faubourg Saint-Honore in Paris for €56.4 million (£83.4 million), inclusive of fees, from AGRICA (CCPMA RETRAITE). Located on the prestigious rue du Faubourg Saint-Honore, between rue d'Aguesseau and rue d'Anjou, in the eighth arrondissement, the buildings comprise six blocks of multi-let properties, some of which retain their original 17th and 19th Century facades. The properties provide 7,000 m(2) (75,300 ft(2)) of accommodation, comprising 2,500 m(2) of retail space set across three floors, 1,100 m(2) of offices and 3,400 m(2) of residential accommodation. Principal occupiers include Chloe, Comme des Garcons, Fratelli Rossetti and Montblanc. The properties generate a gross rental income of €2.8 million per annum, of which 75% is in respect of retail occupiers. John Richards, Chief Executive of Hammerson, commented: ' This acquisition demonstrates Hammerson's commitment to expanding its business in France. Located close to the group's current successful development at 9 place Vendome, rue du Faubourg Saint-Honore is one of the most prestigious streets in Paris for high fashion retailing. The property offers significant opportunities to add value through active asset management.' For further information: John Richards, Chief Executive Tel: 020 7887 1000 Gerard Devaux, Managing Director Continental Europe Tel: 0033 1 5669 3000 Chris Smith, Director of Corporate Affairs Tel: 020 7887 1019 csmith@hammerson.co.uk This information is provided by RNS The company news service from the London Stock Exchange

Companies

Hammerson (HMSO)
UK 100

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