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Lloyds sells four Halifax branches at 25% discount as Prominent sell-off nears conclusion

Lloyds Banking Group sold four provincial Halifax Bank high street branches for £10.55m in the second quarter at a 24.6% discount to a 14-month old valuation, as the bank nears the conclusion of year-long sell-off of a broader 49-strong heavily-defaulted UK secondary property portfolio.
By James Wallace
August 20, 2012 | 7:00 P.M.

The four bank branches sold in the last quarter, leased to Lloyds’ own subsidiary Halifax, were in Derby, St Helens, Warrington and Sheffield, and follow seven branch sales in the first quarter and one in the four quarter of last year, taking the total disposals to 12 out of a 15-strong portfolio.

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