| Type | Private |
|---|---|
| Industry | Land and Property Development |
| Founded | 1992 |
| Headquarters | Targetfollow Group Limited, Riverside House, 11 - 12 Riverside Road, Norwich, NR1 1SQ |
| Key people | Ardeshir Naghshineh (Founder and CEO) |
| Website | Official Site |
Targetfollow is a major property investment and development company in the United Kingdom, established in 1992. It has become one of the leading property companies in the UK, typically specialising in major city centre opportunities.[1]
In July 2010, Targetfollow narrowly avoided going into administration, after loans exceeding £200m provided by Lloyds Banking Group expired. In total the companies debt in July 2010 was estimated at around £700m. Much of this was lent at the peak of the property boom in 2007 by HBOS.[2] 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 Lloyds Banking Group who requested the properties be put up for sale in order to repay the outstanding debt.[3]
Below is a list of recent or current Targetfollow development projects:[4]
Two subsidiaries went into administration on 27 October 2010.
In January 2011, Grand Central Stockport, a leisure scheme in Stockport, Greater Manchester formerly owned by Targetfollow and in the hands of administrators Deloitte was purchased by the local authority.