On August 4, 2010, Canada Pension Plan Investment Board (CPPIB) and Hammerson PLC (LON: HMSO) announced that they have entered into a joint venture to acquire a long leasehold interest in 10 Gresham Street, a prime office building in the City of London for approximately C$295.9 million. CPPIB would own 70% of the joint venture, representing a £128 million (C$206.9 million) investment, and the rest would be owned by Hammerson, which will commit £55 million.
10 Gresham Street comprises 24,125 m² (260,000 ft²) of high quality offices, retail and ancillary accommodation over eight floors. The building was designed by Foster + Partners and completed in 2003. The principal occupier is Lloyds TSB Bank.
Hammerson, headquartered in London, United Kingdom, is a real estate investment trust (REIT) engaged in investing, developing and managing real estate assets in the retail and office sectors in United Kingdom and France.
Further information is found in The Globe and Mail's Report on Business and on Hammerson's website.