A £340 million development in London has been picked up by Brookfield Office Properties after the City of London Corporation agreed to transfer Hammerson’s lapsed option agreement
Hammerson announced that it had sold most of its office portfolio to Brookfield Office Properties for £518m earlier this month and had told the Stock Exchange it had dropped its option to buy the 46,450m² Make-designed London Wall Place site.
However a City of London Corporation spokesperson today said: ‘[We] can confirm that it has agreed a transfer of Hammerson’s option agreement on the development site at London Wall Place to Brookfield Office Properties (Brookfield) and that Brookfield has now exercised this option. A further announcement will be made when appropriate.’
Planning permission was secured for the site near the Barbican last year before plans were put on hold by Hammerson. It is currently unclear whether Ken Shuttleworth’s practice Make will be retained by Brookfield.