Property start-up close to buying Centre Point from administrator

Property start-up close to buying Centre Point from administrator

September 4, 2021 svkpikimjbzs 0

first_img KCS-content Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautChicken Bao: Delicious Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof Sunday 19 December 2010 10:42 pm Property start-up close to buying Centre Point from administrator whatsapp NEW property developer Almacantar is on the verge of buying the Centre Point skyscraper in the West End, according to sources close to the firm. Almacantar, which was set up by former Land Securities executive Mike Hussey in 2009, is set to announce as soon as today that it has entered talks with administrator Deloitte to buy the Grade II listed tower, which is worth around £120m. Deloitte is overseeing the dismantling of Targetfollow, the building’s owner, which was put into administration in October after defaulting on £700m of debt from Lloyds. Norwich-based Targetfollow was owned by Iranian entrepreneur Ardeshir Naghshineh and bought Centre Point in 2005 for around £90m. It also planned to build the Can of Ham office development near St Mary Axe. The 33-storey Centre Point is home to the CBI’s conference centre, agent William Morris and the Paramount private members’ club. Targetfollow Estates, a subsidiary that was not affected by the administration, continues to run the property while the portfolio is sold off. Almacantar declined to comment, while Deloitte could not be reached. Show Comments ▼ whatsapp Share Tags: NULLlast_img

 

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