A selection of the leading property headlines from around Europe at a glance:
A selection of the leading property headlines from around Europe at a glance:
Lloyds sells four Halifax branches at 25% discount as prominent sell-off nears conclusion - COSTAR
Lloyds Banking Group sold four provincial Halifax Bank high street branches for £10.55 mln (EUR 13.4 mln) in the second quarter at a 24.6% discount to a 14-month old valuation, as the bank nears the conclusion of year-long sell-off of a broader 49-strong heavily-defaulted UK secondary property portfolio.
The four bank branches sold in the last quarter, leased to Lloyds’ own subsidiary Halifax, follow seven branch sales in the first quarter and one in the fourth quarter of last year, taking the total disposals to 12 out of a 15-strong portfolio. Dubbed the Cavendish portfolio, the assets were co-owned by D2 Property Management and the Scott Portfolio Unit Trust, two vehicles controlled by David Arnold and Deirdre Foley through their D2 Private property company. The portfolio was valued at £72.82 mln in 2006.
