Taylor Wimpey, the UK's largest home builder by construction volume, said on Monday that it is taking a £550mln (EUR 695mln) writedown on its property land bank and development programme in the UK. The company is also writing down a further EUR 88.4mln in the US and EUR 50.5mln in Spain as the long-running residential property booms in those countries continue to deflate.
Morgan Stanley spin-off, Proprium, made a 20-times multiple on its €65 mln equity investment in 2007 in Motel One.
