Established in 1992 by Ardeshir Naghshineh, Targetfollow is a prominent property investment and development company in the United Kingdom. Specialising in city centre buildings, the privately-owned company has significantly impacted the real estate sector over the past three decades.
Historical Background The company was co-founded by Ardeshir Naghshineh and Tom Bullus. Their initial landmark acquisition in 1996 was 40 Bernard Street from the McAlpine family. By 2001, Naghshineh bought out Bullus' stake, thereby assuming full control. In subsequent years, Targetfollow expanded its portfolio by acquiring important properties such as Centre Point, 60 St Mary Axe, and Baskerville House.
However, Targetfollow faced financial challenges in 2010 when loans exceeding £200 million from Lloyds Banking Group expired, placing the company under a debt of approximately £700 million. This led to two subsidiaries entering administration by October 2010. Despite these hurdles, the company continued its operations and managed to retain several of its key assets.
Core Activities Targetfollow operates a diverse portfolio that includes both commercial and investment properties, and it extends its influence not just within the U.K., but across Europe as well.
Strategic Asset Management The company adopts a hands-on approach to asset management, focusing on intensively managing properties to add value. This involves regularly interacting with tenants and stakeholders, employing proactive marketing strategies, and hosting events to boost occupancy and tenant turnover.
Financial Structuring and Urban Regeneration Targetfollow employs a flexible financial structuring strategy to maximise returns to equity holders. They manage service charges, insurance, and rent collection in-house to ensure maximum efficiency. Additionally, Targetfollow is deeply invested in urban regeneration, refurbishing and redeveloping its assets to contribute positively to the built environment.
Planning and Development The company has a strong history of working with local authorities to obtain planning consents and support community activities. This collaborative approach not only maximises the value of the assets but also ensures the longevity and relevance of their properties.
Property and Facilities Management Targetfollow's experienced team delivers effective property and facilities management services, ensuring compliance with statutory requirements and enhancing the development of their personnel.
Founder: Ardeshir Naghshineh Ardeshir Naghshineh, the founder of Targetfollow, is a notable figure in the real estate industry. By steering the firm through various market cycles and financial challenges, Naghshineh has cemented his reputation as a resilient and strategic entrepreneur. His vision for Targetfollow has always focused on the long-term value and sustainable growth of properties under the company's management.
Targetfollow stands out for its comprehensive and strategic approach to property investment and development. Despite economic challenges, the company has maintained a robust portfolio and continued to innovate in property management. Ardeshir Naghshineh's leadership has been integral to the company's success, making Targetfollow a significant player in the U.K. real estate market.