According to a 30 September 2022 update, the fund has exchanged one asset for £9.5m and as of 27 September had three assets under offer for £21m.
To date, £251m has been issued across five pro rata distributions, representing 66% of the net asset value on closure.
UK property funds impose liquidity limits
While the fund is not required to issue distributions at any set point, its Q&A document sets out an aim to make payments "on at least a quarterly basis".
The remaining £118m in assets under management are currently held 94.9% in property and 5.1% in net current assets, comprised of cash and short-term assets and liabilities.
Of the 15 remaining properties, 65.5% is held in offices, 23.8% in retail and 10.7% in leisure.