An unknown buyer acquired Beetham Tower in Manchester from Ground Rents Income Fund PLC (LSE:GRIO) on August 3, 2021. The Property was originally acquired in 2012. The disposal releases GRIO and its subsidiaries from all current litigation and freeholder obligations. The disposal has the following financial impact with reference to the unaudited interim results to March 31, 2021, released on July 29: Reversal of the specific £2.9 million provision which reflected an estimate of the cost the asset owning subsidiary would have incurred, were it to have proceeded with the remedial works required to repair the Property, after recovery from third parties; and Increase in costs and expenses specifically relating to the Property incurred since April 1, 2021 of £0.3 million. Schroders has not charged additional fees for work carried out in connection with resolving the Beetham Tower litigation. An unknown buyer completed the acquisition of Beetham Tower in Manchester from Ground Rents Income Fund PLC (LSE:GRIO) on August 3, 2021.