UK property funds dispose of £1bn in assets.

Property funds are dumping assets worth more than £1bn onto the London market as redemption requests from investors mount, despite estate agents' warnings that they will have to accept significant discounts to sell. Real estate funds, including vehicles managed by Schroders, CBRE Investment Management, Legal & General Investment Management, M&G and Aberdeen, are marketing at least 18 commercial properties collectively priced at around £1bn, according to agents. "The fact we've got that many on the market at the same time is unusual," said one estate agent, who added that the bulk of them had hit the market in the past two months. However, it said underlying assets were still performing well.

Columbia Threadneedle said it had "ongoing sale and purchase pipelines" across commercial real estate. Funds must sell into a very challenging market. "Schroders said its UK real estate fund "remains focused on divesting assets where the business plan has been completed.

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