Hemingway profit falls to £1.6m
Hemingway’s pretaxprofit for the six months to June fell to £1.6m from £5.4m following its takeover of Olives Property. The company spent £0.5m closing Olives offices andcompensating staff. The 1997 figures also included a one-off £4m profit from sales of property incentral London.
Chesterfield completes shift
Chesterfield has completed its switch to retail and central London property with the £22m sale of a provincial office portfolio to privately-owned Antler Property. Chesterfield now has 30 core assets worth an average £11m each, compared with 57 worth an average £6m at the start of 1997.
Equitable paid £83m for SW1 store
Equitable Life paid £83m for Southside, SW1, not £38m as reported in Estates Gazette last week. Saxon Law advised Equitable Life and Jones Lang Wootton acted for the vendor, Swedish fund Nackerbro (AB) PUBL.
