Targetfollow

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Targetfollow Group Limited
Type Private
Industry Land and Property
Development
Founded 1992
Headquarters Targetfollow Group Limited, Riverside House,
11 - 12 Riverside Road, Norwich, NR1 1SQ
Key people Ardeshir Naghshineh (Founder and CEO)
Website www.targetfollow.co.uk

Targetfollow is a property investment and development company in the United Kingdom, established in 1992 and specialising in city centre buildings.[1]

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.[2] 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.[3]

Below is a list of recent or current Targetfollow development projects:[4]

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.

References[edit]

  1. ^ "Targetfollow - A Distinctive Vision In Property". Targetfollow. Archived from the original on 2010-01-03. Retrieved 2012-02-10. 
  2. ^ Daniel Thomas (2010-07-22). "FT.com - Companies - Property - Targetfollow seeks MPs’ help". Financial Times. Retrieved 2010-08-24. 
  3. ^ Peter Bill (2010-07-23). "Estates Gazette - Bill Blogs - Tussle to manage Targetfollow assets moves centre stage". Estates Gazette. Retrieved 2010-08-24. 
  4. ^ "Targetfollow - Developments". Targetfollow. Retrieved 2008-03-30. 

External links[edit]