Property funds were among the first financial corona victims and virtually all have now been ‘gated’, not allowing withdrawals for six months or more. They invest in commercial property, and own many an office block/shopping centre/industrial park near all of us. These will have a lot of empty units and rent arrears once rental holidays are over as business go under or realise that working from home actually works. The ‘gating’ is designed to stop a scramble for cash leading to forced sales. If you’re stuck in one, you will be able to get out at some time. But if you want to get out with a profit, be prepared to wait a year or two. Or more.
“John Lewis foray into BTR could result in losses of £57m”
I did predict a while ago that Waitrose Homes rather than Waitrose Home Deliveries could be the future. John Lewis were probably the most benign big business to decide to go into the housing rental market, a move which could swing things away from the unpredictability of the mass of private landlords who dominate the sector.