Targetfollow
Encyclopedia
Targetfollow is a major property investment and development company in the United Kingdom
, established in 1992. It has become one of the leading property companies in the UK, typically specialising in major city centre opportunities.
In July 2010, Targetfollow narrowly avoided going into administration, after loans exceeding £200m provided by Lloyds Banking Group
expired. In total the companies debt in July 2010 was estimated at around £700m. Much of this was lent at the peak of the property boom in 2007 by HBOS
. As a result of this, the company has offered a number of its Central London properties up for sale. However it has been reported that Targetfollow would rather find a joint venture partner for its Central London portfolio, and it was Lloyds Banking Group
who requested the properties be put up for sale in order to repay the outstanding debt.
Below is a list of recent or current Targetfollow development projects:
Two subsidiaries went into administration on 27 October 2010.
In January 2011, Grand Central Stockport, a leisure scheme in Stockport
, Greater Manchester
formerly owned by Targetfollow and in the hands of administrators Deloitte was purchased by the local authority.
United Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
, established in 1992. It has become one of the leading property companies in the UK, typically specialising in major city centre opportunities.
In July 2010, Targetfollow narrowly avoided going into administration, after loans exceeding £200m provided by Lloyds Banking Group
Lloyds Banking Group
Lloyds Banking Group plc is a major British financial institution, formed through the acquisition of HBOS by Lloyds TSB in 2009. As at February 2010, HM Treasury held a 41% shareholding through UK Financial Investments Limited . The Group headquarters is located at 25 Gresham Street in London, with...
expired. In total the companies debt in July 2010 was estimated at around £700m. Much of this was lent at the peak of the property boom in 2007 by HBOS
HBOS
HBOS plc is a banking and insurance company in the United Kingdom, a wholly owned subsidiary of the Lloyds Banking Group having been taken over in January 2009...
. As a result of this, the company has offered a number of its Central London properties up for sale. However it has been reported that Targetfollow would rather find a joint venture partner for its Central London portfolio, and it was Lloyds Banking Group
Lloyds Banking Group
Lloyds Banking Group plc is a major British financial institution, formed through the acquisition of HBOS by Lloyds TSB in 2009. As at February 2010, HM Treasury held a 41% shareholding through UK Financial Investments Limited . The Group headquarters is located at 25 Gresham Street in London, with...
who requested the properties be put up for sale in order to repay the outstanding debt.
Below is a list of recent or current Targetfollow development projects:
- Baskerville HouseBaskerville HouseBaskerville House, previously called the Civic Centre, is a former civic building in Centenary Square, Birmingham, England.-History:The site was originally occupied by the home of John Baskerville. He was buried nearby in the area which was known as Easy Hill...
, BirminghamBirminghamBirmingham is a city and metropolitan borough in the West Midlands of England. It is the most populous British city outside the capital London, with a population of 1,036,900 , and lies at the heart of the West Midlands conurbation, the second most populous urban area in the United Kingdom with a... - Harford Place, NorwichNorwichNorwich is a city in England. It is the regional administrative centre and county town of Norfolk. During the 11th century, Norwich was the largest city in England after London, and one of the most important places in the kingdom...
- Dukes Wharf, NorwichNorwichNorwich is a city in England. It is the regional administrative centre and county town of Norfolk. During the 11th century, Norwich was the largest city in England after London, and one of the most important places in the kingdom...
- Princes Street, IpswichIpswichIpswich is a large town and a non-metropolitan district. It is the county town of Suffolk, England. Ipswich is located on the estuary of the River Orwell...
- Baskerville Wharf, BirminghamBirminghamBirmingham is a city and metropolitan borough in the West Midlands of England. It is the most populous British city outside the capital London, with a population of 1,036,900 , and lies at the heart of the West Midlands conurbation, the second most populous urban area in the United Kingdom with a...
- Crete and Candia Towers, LiverpoolLiverpoolLiverpool is a city and metropolitan borough of Merseyside, England, along the eastern side of the Mersey Estuary. It was founded as a borough in 1207 and was granted city status in 1880...
- 70 St Mary Axe, LondonLondonLondon is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...
Two subsidiaries went into administration on 27 October 2010.
In January 2011, Grand Central Stockport, a leisure scheme in Stockport
Stockport
Stockport is a town in Greater Manchester, England. It lies on elevated ground southeast of Manchester city centre, at the point where the rivers Goyt and Tame join and create the River Mersey. Stockport is the largest settlement in the metropolitan borough of the same name...
, Greater Manchester
Greater Manchester
Greater Manchester is a metropolitan county in North West England, with a population of 2.6 million. It encompasses one of the largest metropolitan areas in the United Kingdom and comprises ten metropolitan boroughs: Bolton, Bury, Oldham, Rochdale, Stockport, Tameside, Trafford, Wigan, and the...
formerly owned by Targetfollow and in the hands of administrators Deloitte was purchased by the local authority.