Bovey’s buy-to-let business is put on the market
Sunday 28 March 2010
Imagine Homes, the buy-to-let business run by the husband of television presenter Anthea Turner, is set to go up for sale within two weeks.
Knight Frank, the commercial property agent, will release an information memorandum to potential buyers on behalf of administrator Deloitte.
It is understood that the portfolio could be worth around £100m – that was the value of the business before Grant Bovey faced three high court writs as a result of the financial crisis. Mr Bovey, who once lost a televised celebrity boxing fight to comedian Ricky Gervais, was declared bankrupt earlier this month.
Imagine was backed by HBOS, the failed bank that was absorbed by Lloyds in late 2008 because of its aggressive lending to property businesses.
HBOS initially lent Mr Bovey £13m to run Imagine, the type of property business that was hugely supported by banks prior to the financial collapse of summer 2007.
Lloyds is currently working through the combined group's property investments in an attempt to improve its cash position and goodwill with shareholders.
Former market trader Mr Bovey married Ms Turner nine years ago; they share a mansion worth £6m.
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