Tue, 20 Sep 2011 | BUSINESS SALE
Lloyds Banking Group’s spate of strategic asset offloading looks set to continue with the sale of a £1 billion swathe of commercial property loans.
Private equity groups, pension funds and overseas investors are thought to be very interested in the sale - being managed by JPMorgan Cazenove - which features various loans made on high street shops, offices and factories. It is understood that Lloyds aims to target only a few investors with this sale.
Lloyds has, so far, only sold larger loans on a one-off basis. Putting a portfolio of loans on the market could be seen as a more aggressive step for the bank, which is speeding up the process of unwinding its £24 billion “bad” loan book.
Lloyds began its first sale of a portfolio of distressed property assets, which were derived from 38 various receiverships, in May this year, with a guide price of over £60 million.
The bank has about £23.7 billion of bad real estate loans, and was involved in the sale of about £4 billion worth of real estate sales in 2010, achieved by either pushing for an administration process or promoting an investor exit.
Lloyds has also announced the auction of The Garden Centre Group this week, which it aims to complete by the end of this year.
Read the story - Garden Centre Group to be auctioned off by Lloyds.
The business specialises in the design, manufacture, and installation of a range of bespoke ventilation systems, and related products and services. The company operates on a B2B basis across the UK, providing its services to organisations in the manu...
Represents an opportunity for an acquirer seeking the lease of a private dental practice located in NW London.
LEASEHOLD
Represents an opportunity for an acquirer seeking the leasehold of a combined services dental practice located in the Isle of Wight
LEASEHOLD
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.