Ian and Richard Livingstone pay themselves £124m dividend The company also confirms in the accounts that it is in talks discussions to extend a £234m bond - held against a collection of London properties - which is due to be repaid in November. London & Regional has already been granted a period of "forbearance" against the loan notes but says in its accounts that it is now "finalising the extension." The portfolio of properties, which includes the First Central business park, is ringfenced from the rest of the Livingstones" empire. Loopsign says it "continues to operate in challenging market conditions." In the year to September 30, 2011, revenues fell by 10pc to £457m following disposals. Pre-tax losses, including write-offs of loans, impairments of assets, and a £38m interest bill, increased from £42m to £54m. Loopsign also reported a decrease in its net asset value from £952m to £657m. This decline included the £124m dividend payment, £81m from the downward revaluation of properties, a net loss of £53m on the disposal of subsidiaries, and the pre-tax loss. As well as David Lloyd Leisure, London & Regional owns the Hilton hotels at London's Green Park and Park Lane. It also developed 55 Baker Street, the landmark former headquarters of Mark & Spencer which is now the home of property agent Knight Frank, accountant BDO Stoy Hayward, and London & Regional itself.