Hammerson, the Anglo-French property company, and the state of Oman are in talks to sell the £550m Bishops Square office and retail scheme in the City of London to clients of JPMorgan Asset Management.
The Oman Investment Fund has been looking to sell its 75% stake in the development near London’s Spitalfields market for several market for several weeks to take advantage of the booming market for prime commercial property in London.
It is understood that JPMorgan Asset Management, which is said to want to buy it on behalf of client funds, was interested in acquiring the entire scheme and so engaged with Hammerson to also buy out the additional 25% stake.
Financial Times 18/09/10 page 16
