Warrington Borough Council’s investments in Birmingham’s Mailbox could deal the debt-laden council a fresh financial blow.
The council, which has debts of £1.8bn, invested £10m to buy just under 12% of the Birmingham asset.
But that investment looks likely to be wiped out, as the Mailbox is readied for a £120m sale to pay off £108.5m of debt to Deutsche Bank.
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Including:
Mitsubishi Estates and Co-Re appoint Savills to help lease the development’s office space
Decision deferred on former National Institute of Agricultural Botany revamp
Developer has taken 10 storeys off proposals since first filing
Colliers appointed to lease 50,000 sq ft of office space in the Salford Quays development
