We are writing to update you on the liquidation of the London fund and the sale of properties owned by the Regional Capitals fund, as well as provide details about upcoming changes to our website.

Website

Over the next few days, we will be making changes to our website. All of the information about Bricklane’s Regional Capitals and London funds will now be found under the ‘Individual Investors’ section of the new menu. You will still be able to access your account and dashboard, as well as all of the existing information relating to the funds.

Regional Capitals fund

As of 07/12/2023, we have 66 properties (52% of the portfolio) sold or under offer for a total sales value of c. £10.6m. There are an additional 12 individual units on the market and 40 units where remediation works are currently underway or waiting to begin which prevents them from being marketed.

We remain involved in ongoing litigation aimed at recouping the cost of fire safety remediation works but are not able to share details at this time so as not to prejudice proceedings.

Due to the current pace of remediation works, we continue to expect that the Regional Capitals fund is unlikely to make a distribution to shareholders until 2024.

London fund

Following the liquidation of the fund, we are working to return net proceeds to investors as quickly as possible. Thank you for your patience during this process.

If you haven’t already completed our email request for payment details, please do so at your earliest convenience.