The precarious nature of the current international situation means this is a fairly unstable time at which to offer a review, but I like to keep you informed as to our activities so you can see our areas of progress.
Last year we continued successfully to be involved in a diverse number of projects. The area of property was the weakest of these but we did progress in planning applications due to the changes in government policy relating to greenbelt. However, within the current market conditions, ‘land banking’ is rising as developers wait for prospective changes.
We have made considerable progress in film finance and have now achieved the first third of funding for the feature film Conquered Hearts. We are looking to complete the finance during the first half of this year.
We had a cross section of enquiries in several finance funding requirements, some areas of which are new to us. We continue to advance with these.
The latter part of last year was slow and we saw some clients relocating to other countries – with strong interest in the Middle East. Current circumstances may delay or alter some of those decisions.
We see the market adjusting to several concerns but, as always, uncertainty only proves the importance of our valued relationships.
We have now been looking after Clients for more than 20 years and our wide diversity gives us the ability to deliver solutions for them all as they adjust to present conditions and prepare for the future.
John Pennington
Group CEO – The Pennington Group