Minerva plc was a prime central London residential and commercial investor and developer with a long track record of high-quality schemes

  • Delancey acquired Minerva in a joint venture with Ares Management LLC in August 2011
  • Minerva held a number of high-profile office and residential developments in Central London, that included:
    • The Walbrook – 450,000 sq ft of office accommodation and high-quality leisure and retail space close to the bank of England
    • St Botolph Building – a Grade A, long leasehold office building located in the heart of the shipping and insurance district of the City of London
    • Ram Brewery – comprising 7.75 acres, offering a major residential-led development opportunity in the heart of Wandsworth, South West London
    • The Kensington – the former Odeon Kensington Cinema, located at the western end of Kensington High Street  
    • The Lancasters – a residential development in central London, with 77 apartments, the majority of which face south with views onto or across Hyde Park
  • It was under-capitalised and overleveraged, with several loan facilities in default spotting the opportunity to acquire high quality assets at an attractive price
  • The debt facilities were re-structured with multiple lenders and the JV delivered full repayment of the debt
  • It was taken private in a public takeover process

All assets have subsequently been sold.