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George Roberts, leasing agent for Jones Lang Wootton, commented Having received expressions of interest at the start of the refurbishment as approximately £28 psf, the letting demonstrates the growth in rents for refurbished accommodation over the last nine months Notwithstanding that fact, the transaction involved a tenant within the building other parties were prepared to match the rent and lease term secured.

which is subject to certain conditions and approvals, is scheduled to close between year-end 1998 and 1 February 1999 In terms of total property assets. The real estate valuation company offers comprehensive services to the people for valuation of all types of properties such as commercial, industrial, residential, plots, lands, etc. Hammerson Canada represented approximately 17% of the Hammerson group at 31 December 1997 Following the disposal, around 72% of Hanmmerson's portfolio will be in the UK with the balance in France and Germany Proforma gearing will be approximately 35%, based on December 1997 valuations The disposal of the group's Canadian activities .



The properties have been bought on a freehold basis from Carpetright plc Merseyside Pension Fund has initially paid £7.7 million for the investment and will add a further £0.3 million as a deferred consideration should Carpetright assign its lease to DSG Retail Limited within 18 months of completion of the purchase.

At present Carpetright has a lease on one unit while Harveys Furnishings Ltd has a lease on the other unit at passing rents of approximately £15.50 and £15 per sq ft respectively. that Tony Wilby has been promoted to the post of managing director with immediate effect. Mr Wilby, who also joins the Group's Executive Board, succeeds Keith Egerton . most recently Tony Wilby has been responsible for the company's UK commercial development activities Prior to joining Taylor Woodrow Property Company in 1988 he worked for English Estates.

Commenting on the appointment Mr Egerton said, 'Since joining Taylor Woodrow Tony Wilby has demonstrated sound commercial judgement and management skills. He has successfully run Property Company's UK Northern operations for over 10 years and more recently, has been responsible for the Company's commercial development activities in Scotland and the South of England I have every confidence in his ability to take Property Company's activities forward and I am sure he will prove to be a great asset to the Group Executive Board.