Libyans can claim against Maud
The Court of Appeal has reinstated a statutory demand served against Glenn Maud by the Libyan Investment Authority over a £17.5m debt. The debt arises from a guarantee made by Maud on a €12.5m (£10.6m) loan made by the LIA to his company, Propinvest. The court overturned an earlier ruling to set aside the demand because of sanctions imposed on Libya.
Nurton shelves Brum sale
Nurton Developments has shelved the £105m sale of its biggest Birmingham asset owing to a combination of disappointing offers and the impact of Brexit. The 158,000 sq ft Two Colmore Square and Cannon House office block had been put up for sale through CBRE but received offers of only around £95m.
Erdem opens in Whitechapel
Turkish fashion group Erdem is opening an office at Helical’s The Loom, E1. It has taken 9,200 sq ft on a 10-year lease at a rent of £54 per sq ft. Cycle repair shop and café Look Mum No Hands! has also agreed to operate an on-site café. Colliers International, Hall Kemp and CWM acted for Helical; Making Moves acted for Erdem.
Perella fund in for Pinewood
A fund established by Perella Weinberg Partners has agreed to buy 65.8% of the shares in Pinewood Group, owner of Pinewood Studios – home of James Bond – in Buckinghamshire. It has made a 563.2p per share offer, a 31% premium to its share price in February, valuing the company at £323.5m.
CDG to sell Red Hot sites
CDG Leisure has been appointed by insolvency adviser FRP Advisory to dispose of the sites of all-you-can-eat restaurant Red Hot World Buffet. A 17,500 sq ft restaurant at The Light in Leeds and one of 26,000 sq ft on Deansgate in Manchester are being marketed.
