Britain's largest mortgage and savings provider HBOS has sold half of its stake in property company Brixton to avoid running foul of tax rules for real estate investment trusts (REITs). Brixton said in a statement that HBOS has cut its stake from 20.6% to 10.2%, through the sale of about 27 million ordinary shares at 25p each.
A 4-acre, freehold site at Kings Cross in the capital’s Knowledge Quarter is expected to attract international interest.
