student accommodation

Property group Brandeaux has announced the redemption of a further 4% of investor shareholdings in its suspended student funds.

European property is offering a safe haven to investors facing up to negative bond yields, said Alban Lhonneur, manager of the F&C Real Estate Securities fund.

Brandeaux has completed the sale of its student accommodation property portfolio and aims to make payments to shareholders in the suspended funds this month, though NAV per share has been reduced further.

The property manager of the Mansion Student Accommodation fund has proposed a wind-up of the fund after redemptions were suspended for more than a year.

The value of the suspended Brandeaux Student Accommodation fund's property portfolio has been cut by more than 6% by Savills following an independent valuation process.

Liberty Living, a subsidiary of troubled student property fund Brandeaux, has pulled a planned £400m IPO less than a month after announcing it.