Managing Partners Limited is about to buy almost an entire street of houses in Portsmouth at prices as much as 40% below official asking values.
The properties will be held within its British Property Opportunities Fund, which now owns 18 of the 48 properties. It has offers pending on a further 10.
The fund has paid £89,000-£100,000 for each one, most of which had been repossessed by lenders.
Meanwhile, Lennox Investment Management is establishing a fund to buy prime property with values of more than £1m as investment funds take advantage of the sharp downturn in house prices to pick up bargains from struggling buy-to-let landlords and distressed homeowners.
Allsop has listed a guide price of £550,000-£600,000 for an entire street of 13 houses in Croxteth, Liverpool which was the setting for Brookside.
27/11/08 Financial Times 4
Daily Telegraph 5
