Bondholders in Brixton will this week call for the heads of the property group’s top executives and an independent valuation of its real estate portfolio in a move to derail the company’s takeover talks with Segro, its arch-rival.

The property group will face a backlash from bondholders who fear the company’s takeover plans could leave them facing a loss on their investments.

One UK bondholder, who owns as much as 2% of Brixton’s bonds, is expected to put a proposal to its board this week calling for the appointment of a new executive team.

The proposal will include a debt restructuring and calls for Brixton to put off any asset disposals until the real estate market recovers.

Sunday Telegraph