Braemar launches new solar parks fund

Michael Hunt

Hale-based property investment and management company, Braemar Group, has announced its new student accommodation fund was up more than 21.9% between December 12, when it was listed, and the end of the year.

Braemar said the Braemar Student Accommodation Cell, listed on the Channel Islands Stock Exchange, exceeded the minimum required for listing, as well as seeing a rise in its net asset value per share.

In a statement released on the stock exchange, Braemar also said: "Our third open ended investment company, the Braemar European Solar Parks Cell, has this week been given interim consent for listing by the Guernsey Financial Services Commission and will launch in the spring.

"Braemar Securities plans to launch at least one further fund this year. All of the Braemar open ended investment company funds continue to be available for investment and we will report further on fundraising progress at the end of our financial year.

"Our property management division, Braemar Estates, remains stable and is trading in line with Directors' expectations."

The company said in December, the student housing market is forecast to grow from £6.6bn to over £20bn in the next six years, as student numbers continue to grow, rents rise and more students choose to live in purpose built accommodation.

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