Lloyds tasks trio with spicing up land bank

摘要

Lloyds Banking Group is in the process of appointing three advisers for a strategic land initiative, as it steps up the process of creating value from the legacy of lending undertaken by HBOS. Lloyds is thought to have lined up Savills, GL Hearn and EC Harris to advise on and manage a new strategic land management platform, which is in the process of being created. The platform would aim to create value from undeveloped land held in its loan book. Lloyds would take control of land assets from owners that it lent against during the property boom, or which are held by developers to which it extended debt facilities.