Ground Rents Income Fund (GB:GRIO) has released an update.
Ground Rents Income Fund plc has reported a significant 24.6% drop in its portfolio valuation to £81.5 million due to the UK Government’s leasehold reform proposals, which have created market uncertainty and impacted ground rents. The company’s recent valuation reveals challenges in the sector, with the government’s stance against compensating freeholders leading to a market pause and declining property values. Amidst these reforms, the company is aiming for further asset disposals and has a new loan repayment schedule starting January 2025.
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