Minerva is reporting losses

Author: Cyril Richert

The inquiry on the Ram Brewery redevelopment (championed by developer Minerva) will start in a few weeks, on the 3rd November. You will find all the details about the dates and the matters to be addressed at the inquiry in our previous article HERE.

The Evening Standard reported last week on Minerva’s losses saying:

Developer Minerva is reporting lossesMinerva also has plans to develop the Ram Brewery in Wandsworth. The proposed scheme includes 1000 apartments and 200,000 square feet of retail, restaurant and office space, but it now faces a Government inquiry.

The bullish update on the London housing market — which follows positive reports in recent weeks from upmarket estate agents such as Knight Frank and Savills — came as Minerva reported widening losses.

The firm posted losses of £287.1 million in the 12 months to the end of June against a deficit of £231.9 million the previous year. The value of its property portfolio fell 28.4% to £807 million.

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