Targetfollow is a property investment and development company in the

United Kingdom The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain, is a country in Europe, off the north-western coast of the continental mainland. It comprises England, Scotland, Wales and North ...

, established in 1992 and specialising in city centre buildings. The company's initial founders were Ardeshir Nagshineh and Tom Bullus. In 1996, they bought 40 Bernard Street from the McAlpine family. And in the years that followed the company changed its investment strategy from one of acquiring single-let offices to multi-let ones. In 2001, Naghshineh bought out Bullus' stake. Leading up to 2010, Targetfollow acquired many landmark real estate properties throughout the UK, including

Centre Point Centre Point is a building in Central London, comprising a 34-storey tower; a 9-storey block to the east including shops, offices, retail units and maisonettes; and a linking block between the two at first-floor level. It occupies 101–103 ...

, 60 St Mary Axe and

Baskerville House Baskerville House, previously called the Civic Centre, is a former civic building in Centenary Square, Birmingham, England. After serving as offices for the Birmingham City Council, it was extended with additional floors in 2007. History The ...

. In July 2010, Targetfollow narrowly avoided going into administration, after loans exceeding £200m provided by

Lloyds Banking Group Lloyds Banking Group is a British financial institution formed through the acquisition of HBOS by Lloyds TSB in 2009. It is one of the UK's largest financial services organisations, with 30 million customers and 65,000 employees. Lloyds Bank w ...

expired. In total, the company's debt in July 2010 was estimated at £700m. Much of this was lent at the peak of the property boom in 2007 by

HBOS HBOS plc was a banking and insurance company in the United Kingdom, a wholly owned subsidiary of the Lloyds Banking Group, having been taken over in January 2009. It was the holding company for Bank of Scotland plc, which operated the Bank ...

. As a result of this, the company has offered a number of its Central London properties up for sale. However it has been reported that Targetfollow would rather find a joint venture partner for its Central London portfolio, and it was

who requested the properties be put up for sale in order to repay the outstanding debt. Two subsidiaries went into administration on 27 October 2010. In January 2011,

Grand Central Stockport Grand Central Stockport is a retail, entertainment and leisure complex in Stockport, Greater Manchester. It is adjacent to Stockport railway station and the complex first opened in 1991. Since then it has included various leisure facilities such ...

, a leisure scheme in

Stockport Stockport is a town and borough in Greater Manchester, England, south-east of Manchester, south-west of Ashton-under-Lyne and north of Macclesfield. The River Goyt and Tame merge to create the River Mersey here. Most of the town is within ...

Greater Manchester Greater Manchester is a metropolitan county and combined authority, combined authority area in North West England, with a population of 2.8 million; comprising ten metropolitan boroughs: City of Manchester, Manchester, City of Salford, Salford ...

formerly owned by Targetfollow and in the hands of administrators

Deloitte Deloitte Touche Tohmatsu Limited (), commonly referred to as Deloitte, is an international professional services network headquartered in London, England. Deloitte is the largest professional services network by revenue and number of profession ...

, was purchased by the local authority. In recent years, one of Targetfollow's assets,

The Pantiles The Pantiles is a Georgian colonnade in the town of Royal Tunbridge Wells, Kent, England. Formerly known as "The Walks" and the (Royal) "Parade", it leads from the well that gave the town its name. The area, developed following the discover ...

, has become an increasingly popular tourism destination. It is host to Jazz on The Pantiles, a music festival that has been held there for over 20 years.

Development Projects and Assets

Below is a list of current Targetfollow development projects and assets: *Dukes Wharf,

Norwich Norwich () is a cathedral city and district of Norfolk, England, of which it is the county town. Norwich is by the River Wensum, about north-east of London, north of Ipswich and east of Peterborough. As the seat of the See of Norwich, with ...

Royal Tunbridge Wells Royal Tunbridge Wells is a town in Kent, England, southeast of central London. It lies close to the border with East Sussex on the northern edge of the High Weald, whose sandstone geology is exemplified by the rock formation High Rocks. ...

*Tunbridge Wells and Rusthall Commons,

*Empire House,

Dewsbury Dewsbury is a minster and market town in the Metropolitan Borough of Kirklees in West Yorkshire, England. It lies on the River Calder and on an arm of the Calder and Hebble Navigation waterway. It is to the west of Wakefield, east of Hudder ...

*27-28 Tombland,

*Cambridge House,

*Princes Street,

Ipswich Ipswich () is a port town and borough in Suffolk, England, of which it is the county town. The town is located in East Anglia about away from the mouth of the River Orwell and the North Sea. Ipswich is both on the Great Eastern Main Line r ...

*Peterborough One Retail Park,

Peterborough Peterborough () is a cathedral city in Cambridgeshire, east of England. It is the largest part of the City of Peterborough unitary authority district (which covers a larger area than Peterborough itself). It was part of Northamptonshire until ...

Previous Targetfollow development projects include: *

Birmingham Birmingham ( ) is a city and metropolitan borough in the metropolitan county of West Midlands in England. It is the second-largest city in the United Kingdom with a population of 1.145 million in the city proper, 2.92 million in the West ...

*Harford Place,

*Princes Street,

*Baskerville Wharf,

*Crete and Candia Towers,

Liverpool Liverpool is a city and metropolitan borough in Merseyside, England. With a population of in 2019, it is the 10th largest English district by population and its metropolitan area is the fifth largest in the United Kingdom, with a popul ...

*60 St Mary Axe,

London London is the capital and largest city of England and the United Kingdom, with a population of just under 9 million. It stands on the River Thames in south-east England at the head of a estuary down to the North Sea, and has been a majo ...

References

External links

* Property companies of the United Kingdom Companies based in Norwich Financial services companies established in 1992 Real estate companies established in 1992 {{UK-company-stub