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Minerva say good progress on developments

Property firm Minerva has issued an interim statement saying they are in a good position to take their strategy forward, and are working on several large projects in London.

Chief executive Salmaan Hasan said: "The first quarter of the financial year has seen further steps forward in the execution of our strategy. We have achieved planning on our Lancaster Gate scheme, secured new project financings in excess of £300 million, entered into a construction contract for The Walbrook and have acquired a further medium-term development opportunity in Leinster House Hotel.

"With specific project financing in place and significant cash reserves available, the Group is well placed to take its strategy forward."