Oxford-based Highcroft Investments is to make a second attempt at conversion to real estate investment trust status. Financial Times

The £36m company’s plans were originally voted down at a shareholder meeting in December, but it now has the backing of a major shareholder.

Kingerlee Holdings, which holds more than 25% of the shares, has promised to support the conversion to the listed tax-efficient structure.

The company said it remained convinced of the merits of a REIT conversion, which will again require shareholder approval at a meeting in March.