Pluto orbits Hertfordshire
Residential development lender Pluto Finance is to provide a £17.2m loan to bring forward 53 houses and flats in Bushey, Hertfordshire. Pluto, backed by Blackstone and Clearbell Capital, has deployed the senior and mezzanine debt to a local developer from its £360m stretched senior loan division.
UK values rise by 1% in March
UK commercial property values rose by 1% in March, capping a total rise of 6.8% over the past 10 months. Total return in March was 1.6%. Sheds and offices returned 2.2% and 1.9% respectively, on capital growth of 1.6% and 1.5%.
Banks lend SEGRO £380m
SEGRO has agreed €460m (£380m) of new and amended bank facilities with 10 banks. These include Barclays Bank; Bank of China, London branch; BNP Paribas; HSBC; Lloyds Bank; KBC Bank NV, London branch; Santander Global Banking & Markets; and Bank of America Merrill Lynch.
NPL sell-off hits €30bn
A total of €29.8bn European property loans have been sold in the year to date almost matching the €30.3bn total for 2013. According to Cushman & Wakefield a further €23.4bn of live sales are in the pipeline.
Telford expects £120m profit
Telford Homes is expecting pretax profit of more than £120m in the next four years owing to the strong London market. The group has forward sold 98% of its expected open-market sales for the year to March 2015, 70% for 2016 and more than 25% for 2017.
Bridget.O’Connell@estatesgazette.com
