Monday, October 26, 2009
Lloyds and Royal Bank of Scotland â€“ both now among the largest land owners in the UK
Lloyds is talking to a number of house builders about plans to hand over much of its land bank as it seeks to reduce its holdings without taking another massive hit on valuations. According to the Guardian newspaper the management team at house builder Bellway has approached Lloyds to discuss a plan which would see builders â€“ possibly also including Barratt Developments and Persimmon â€“ developing land accumulated by HBOS in the boom years as part of a series of profit-sharing joint ventures. Lloyds would get a share of the proceeds once the houses have been sold.