Portfolio worth £400m, according to reports

Aviva is putting a book of distressed UK property holdings worth an estimated £400m up for sale.

Aviva Investors, the insurer’s asset management arm, is marketing the portfolio of commercial and retail property. The portfolio covers 135 assets in administration or receivership, according to Property Week.

Aviva has a £8.4bn property portfolio, of which £4bn is thought to be underperforming. It has set aside £1.5bn of provisions for losses on it.

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