21:28
zhbjzhql
, Posted in
Battersea
,
goahead
,
0 Comments
Rob Tincknell (REO) real estate administrator who owns the property, said the decision taken by the Wandsworth Council "relaunch" talks to subscribe to a joint venture partner to help finance the development of the site.
"Is the key event that gives investors something to get their teeth into", he says .jusqu ' here, 16 parts, including sovereign wealth funds have formally expressed an interest to buy a stake in the project.
REO, debt charged Irish property group shares rose 43pc 3.52% on news that had granted planning permission.
The plant is one of the most recognizable landmark points London but had lain idle since 1983, despite attempts by a collection of owners to develop.
REO proposals include m 10 square feet of offices, shops and 3,400 maisons.Cependant there still obstacles for effacer.ainsi needing a financial partner, REO must accept an extension of 600 million pounds in London Underground financing conditions.
"" It must also obtain permission by the Mayor and the Government for the project, even though Mr. Tincknell "does not all problems" on this aspect.
View the original article here
Stakeholders include pension funds, sovereign wealth funds, high net-worth families and institutions in the UK, Rob Tincknell, Director General of the Council of Treasury Holdings UK developer said.
The parties have signed confidentiality agreements and conduct due diligence.
Company property Irish opportunities Real Estate debt laden site owner and the owner of the majority of the Board, is reconstructing the history of Londres.Il wants sell 50pc site to fund redevelopment, which could win urbanism of a hearing next month.
The powerhouse site is $ 395 m ￡ currently and Mr. Tincknell, who is informed by Cushman & Wakefield, said that he hoped to be "really active discussions" with a party in January.
REO shares increased 20pc Friday after the company said that he had "significant progress" with a refinancing.
View the original article here
The agreement ensures that provides Irish developer of Real Estate at the power plant-derived and float it to advance a redevelopment of. 5bn ￡ 4 proposed remain on track. However, LWR is now "account options" as he battles to find a way to refinance or repay loans in August, with a potentially required raising equity.
The company acquired Battersea Power Station 400 m ￡ in 2006, but the real estate market slowdown caused the violation of the commitments on 263 m ￡ protected powerhouse with Bank of Scotland and the Ireland bank debt.
Lloyd's, Irish bad Bank of Scotland and Nama, the vehicle Bank owner now control the loan from the Bank of the Ireland agreed to abandon the Covenant violations and to extend loans to the 31 August next year.
However, was conditional on the REO securing an agreement with oriental property, the former owner of the station power to postpone "principal and interest payments" 150 million pounds of loan notes that he holds.
Monday, REO confirmed that an agreement with oriental to delay payment until May 2011, when debt expire.Au 31 August, the capital and interest owing ￡ 6.5 m.Une Announces on the refinancing arrangements will be made "in a timely manner.
Wandsworth Council is expected to announce a decision on the proposals for planning for the power station site next month.
View the original article here
