M&G, which counts Fremlin Walk in Maidstone among its biggest holdings, said the move to suspend its £2.5bn property portfolio came following “unusually high” demand from investors for their money back, prompted by “Brexit-related political uncertainty and ongoing structural shifts in the UK retail sector”.

Approximately £1bn has been withdrawn by M&G investors over the past year. The company admitted it had been unable to sell property fast enough to fund the withdrawals.