Troubled property group Brandeaux denies 'distressed seller' status

Student accommodation fund giant Brandeaux has denied its recently-suspended funds are "distressed sellers", and has said there is a £1bn "overhang" of property on the market.

In a series of updates issued to investors following the suspension of its entire eight-strong property range after liquidity problems, Brandeaux said it is seeing "encouraging" signs of interest from overseas buyers in UK student accommodation. Last month Investment Week exclusively reported that some investors have been trapped inside the suspended funds for as long as 27 months while Brandeaux negotiates sales of student accommodation to free up liquidity. The group pointed to the failure of another student accommodation fund house, Opal Group, which fell into administration in Mar...