Heritor's portfolio draws 12 bids

A £100 million portfolio of luxury rental properties previously owned by collapsed HBOS-backed firm Heritor's is understood to have attracted 12 bids as the buy-to-let sector stages a comeback.

As revealed in Scotland on Sunday last month, the properties were put on the market as Lloyds Banking Group accelerated its disposal of assets inherited from Bank of Scotland.

Administrators for Heritor's, who are handling a host of rental properties in some of Scotland's most sought-after addresses, will draw up a shortlist tomorrow.

Sources placed the number of offers as high as 12 as a boom in demand for rental properties stoked a revival in the beleaguered buy-to-let market.

One source said: "The Heritor's flats are around 98 per cent let and there are parties who think there's going to be growth in the rents."

Lettings agent David Alexander, who lost his savings when Heritor's went under, last week launched a service to encourage property developers to turn office buildings into rental properties.