Minerva bullish on commercial property future

By Graham Ruddick Published: 6:01PM GMT twenty-three February 2010

Minerva

The company, that in Jan fought off a takeover proceed from the largest shareholder, posted a pre-tax distinction of �45.9m in the second 6 months of 2009, compared to a loss of �189m in the prior half. Minerva"s portfolio rose 10.6pc in worth to �980m in the half-year, compared to a 28.4pc tumble by the prior twelve months.

The liberation comes at a critical time for the association after this month completing construction a whole of the 450,000 sq ft Walbrook growth in the City. The construction is dull at benefaction and fears that it, and Minerva"s pick City intrigue St Botolphs, will not secure tenants had sparked concerns about the company"s future.

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However, Salmaan Hasan, arch executive, pronounced he was "confident" of signing up a reside on tasteful conditions this year, notwithstanding a series of companies, such as BlackRock and Macquarie, signing let deals at pick locations.

Mr Hasan pronounced that direct from monetary services, media, word and the veteran services companies remained clever and that Minerva could franchise the space to some-more than one business.

Minerva, that pronounced it is in discussions with impending tenants, is bullish about the prospects since of a necessity of new space in the City, and believes it can capture businesses seeking to connect the offices in one location, as well as those seeking to expand.