Wereldhave sells three office buildings in Europe

Dutch listed property firm Wereldhave said on Wednesday that it is selling an office development in Paris to an unnamed French bank for EUR 91.5 mln.

The building, which is expected to be completed by the end of 2013, is located in Joinville-le-Pont in the southeastern suburbs of the French capital. The transaction price is more than 25% above Wereldhave’s cost price, the company said in a statement.

The deal is part of the company's ongoing sales programme for non-core assets. Wereldhave sold two other properties during the fourth quarter and said it will use the proceeds to reduce group debt.

In the UK, Wereldhave disposed of an office building at Dean Street in London for £20.7 mln (EUR 25 mln), which is £4 mln above book value.

In Belgium, Wereldhave has reached agreement on the sale of the Orion office building in Brussels for EUR 11.7 mln, equal to book value. Completion of this transaction is scheduled to take place before year-end.

In early December, Wereldhave took further steps to reduce its costs by reducing its staff across Europe from 138 to 123.