Financial partnerships are becoming increasingly important for developers as they struggle to realise development schemes amid tough financial and economic conditions, according to real estate adviser Savills. The firm notes that credits are often granted on condition a development is at least 50% pre-let and the developer provides sufficient equity, a major challenge for many medium-sized and small developers.
Private real estate holding Global Holdings Group has acquired mixed-use asset 10 Great Pulteney Street from fashion retailer Boohoo.
