A property fund belonging to the boutique fund manager Managing Partners Limited has bought 18 of the 48 properties in a street in Portsmouth, with offers pending on a further 10. The British Opportunities Fund is considering buying all of the properties in the road.
Given the current conditions in the housing market, the fund has been able to purchase these properties from landlords who have overstretched themselves at prices that are as much as 40% below market value. It has paid between
