|Industry||Land and Property
|Headquarters||Targetfollow Group Limited, Riverside House,
11 - 12 Riverside Road, Norwich, NR1 1SQ
|Ardeshir Naghshineh (Founder and CEO)|
In July 2010, Targetfollow narrowly avoided going into administration, after loans exceeding £200m provided by Lloyds Banking Group expired. In total, the company's 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:
- Baskerville House, Birmingham
- Harford Place, Norwich
- Dukes Wharf, Norwich
- Princes Street, Ipswich
- Baskerville Wharf, Birmingham
- Crete and Candia Towers, Liverpool
- 70 St Mary Axe, London
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.
- "Targetfollow - A Distinctive Vision In Property". Targetfollow. Archived from the original on 2010-01-03. Retrieved 2012-02-10.
- Daniel Thomas (2010-07-22). "FT.com - Companies - Property - Targetfollow seeks MPs’ help". Financial Times. Retrieved 2010-08-24.
- Peter Bill (2010-07-23). "Estates Gazette - Bill Blogs - Tussle to manage Targetfollow assets moves centre stage". Estates Gazette. Retrieved 2010-08-24.
- "Targetfollow - Developments". Targetfollow. Retrieved 2008-03-30.
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