In the notice, the management said the fund’s independent valuer had “expressed material uncertainty regarding TIME:Freehold’s residential property valuations”.
It said this was a “direct result” of the government’s announcement of a consultation into restricting leaseholds on rental properties in the King’s Speech last week (7 November).
The new bill will ban leaseholds for new houses, but not new flats, in England and Wales, and increase the standard lease extension period to 990 years.
St James’s Place suspends property fund and temporarily reduces fees
The TIME fund invests …
