The purchase by the fast-moving Randsworth Trust of an 8% stake in Lynton Property & Reversionary is likely to have sent shivers down the backs of the directors of the company, which only merged last December.
But David Holland, who heads Randsworth, has no immediate plans to meet the directors of Lynton.
Mr Holland says that the stake is a long-term investment, but readily admits that there “may or may not” be ultimate bid intentions.
The merged Lynton Property & Reversionary had total gross assets of £200m at the March year-end with net assets of 311p a share. While this would be a large chunk for Randsworth to swallow, the speed with which it has grown over the past year makes anything possible.
