Short term investment options £100k - £300k

[Quhet]

My parents have recently pocketed around £500k from the sale of a family home. Medium term the money will be divvied out towards a variety of things but short term (1-2 years), they are looking at options as to where to invest £100-300k to maximise returns. (~£250k has been put towards another property). They are both very cautious and have not had any experience of having that kind of money before, Currently the money is spread across a number of different banks in accounts that will not give anything over 1% interest.

Aside from property, what sort of options do they have? Any low risk bonds/investments etc that they should be considering?
Any suggestions would be gratefully received.


ETA - I have suggested £50k into premium bonds, but not sure what else there is out there...

[Croutons]

They are cautious but you think a 1-2 year timeframe merits the massive inbound cost and illiquidity of property or the uncertainty of equities?

No, no, a thousand times, no.

[andy43]

FSCS backed savings/fixed term accounts with a bit of premium bonds if they feel lucky. Good call waiting until after this week - poss rate rise?
I wouldn't risk anything else bearing in mind Brexit/Trump/McDonnell. But I'm a wuss.