Commercial mortgage news: Lloyds puts assets back on the market

14 March 2011

Written by David Whittaker

People who are considering taking out a commercial mortgage may be interested to know that Lloyds Banking Group and Scottish property expert Scott Cairns have put 11 assets on sale in Scotland.

Scotland on Sunday reported that Bonnytoun Estates, which were backed by Bank of Scotland's Peter Cummings in 2001, are to be put back on to the market.

HBOS is the holding company for the Bank of Scotland and was taken over by Lloyds Banking Group in 2008.

It is thought the sale is part of a wider review of the assets that were inherited through the acquisition.

The estates are expected to be sold for around £25 million, with sources telling the newspaper that Mr Cairns, who set up the assets, "felt the time was right to exit his own property firm".

According to a recent report from the Scotsman, the sale of Ayr Central mall recently fetched £33.8 million.

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