Real Estate

M&G’s risky property fund makes first London purchase

Investors see Brexit and other uncertainties driving down prices for riskier deals

M&G Real Estate, one of the world’s largest property investors, has made a first London purchase for a fund it set up to buy riskier buildings in the wake of the UK’s Brexit vote.

The investment group has paid £28.5m for Gate House, a 1960s office development in Clerkenwell, using money from the UK Enhanced Fund it launched earlier this year.

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