Drop in valuation of estate adds to losses at Bruntwood SciTech
Bruntwood SciTech is to publish accounts shortly that will show a sharp fall in market valuations of its property portfolio that will contribute to a pre-tax loss of £163 million (2023: £111 million loss).
The joint venture between the property business Bruntwood, insurance giant Legal & General and the Greater Manchester Pension Fund (GMPF) will attribute £148 million of that loss in the year ending September 30, 2024 to market revaluation movements.
The asset portfolio added 29 of Bruntwood’s city centre assets in 202... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...
