Property-firm Development Securities has completed a deal to grab the so-called 'Chrome Portfolio' from NAMA - the body tasked with flogging the assets of the state owned Irish banks.
The £103m deal, in which Development Securities is a minority partner with Pears Group, will see the two firms acquire several central London properties, worth around £65m.
The remainder of the portfolio includes several neighbourhood retail schemes "anchored" by Tesco convenience stores.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Development Securities is becoming a regular customer for NAMA having already picked up the Wick Lane Wharf development in Hackney Wick in April.
BS
-
Trump’s tariffs: what is he thinking and how should UK respond?Every right-thinking person knows that free trade is a surer route to the wealth of nations than protectionism, says Stuart Watkins. What is Trump thinking?
-
Barclays begins paying up to £100 compensation to customers after banking outageBarclays will pay up to £7.5 million in compensation to customers after its banking services were disrupted by an IT outage
