Wed, 17 Nov 2010 | ADMINISTRATION
A group of companies that own the Leadenhall Triangle site in London have been put into administration.
The group own four buildings on the site between Leadenhall Street and Fenchurch Street, which was once slated to be developed into the headquarters for a global investment bank.
The buildings were valued at £140 million two months ago and the owners, who are clients of investment manager Investream, had a £153 million loan secured against the site, which matured in April.
Investream, which is also the site's development manager, had been in talks to bring in new equity to aid a refinancing of the site, but PricewaterhouseCoopers have since been called in as administrators.
The group of companies are registered in Guernsey and the administration was approved by the Court of Guernsey yesterday evening.
The site was once likely to be occupied by investment bank Deutsche or JP Morgan once plans for the 1.25m sq ft commercial development had been finalised. However, following last night's administration, vacant possession may not be available until 2015 due to some of the leases on the existing buildings being regeared.
It is thought that any new development planned for the site will be delayed until the current glut of planned commercial development in London – such as the Walkie Talkie tower - is completed.
An opportunity exists to purchase the business and assets of a recruitment business operating in the south of England. The business specialises in both temporary and permanent candidate placement in education roles.
An opportunity exists to purchase the business and assets of a leading provider of traffic management solutions operating across the UK highways network.
An opportunity exists to purchase the business and assets of a television production company. The company has an established track record in the production of drama/ documentaries and colourised archive series.
|
11
|
|
Mar
|
Yorkshire accountants Shenward buy London peer as part of expansion drive | BUSINESS SALE
Yorkshire accountancy firm Shenward has expanded into London...
|
11
|
|
Mar
|
UK administrations update: March 4 – 11 | ADMINISTRATION
Since our last update, the following businesses have been co...
|
11
|
|
Mar
|
Edinburgh consultants Alba Partners buy London peer Core Consultants | BUSINESS SALE
Edinburgh-based management consultants Alba Partners has bou...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
We can help you capitalise on insolvent businesses. We list UK businesses in administration, liquidation and with winding up petitions daily. Ensuring our members never miss out on an opportunity
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.