Embattled property group Brandeaux to wind up suspended funds
Troubled property firm Brandeaux is to wind up six of its long-suspended property funds following calls from investors wanting to exit the vehicles.
The three-strong Ground Rent fund range will be wound up as soon as possible, and in doing so this will cause the three Dual Assets funds – which invest in both the Ground Rent and Student Accommodation funds – to also close.
The group said in an announcement £173m of liquidity has been released through property sales so far for investors in the Ground Rent funds, representing some 37% of the total assets …