IN BRIEF: Triple Point Social Housing rent collections increase
Triple Point Social Housing REIT - London-based property investor - Says rent collection increases to 93.3% in the three months to March from 90.2% at the end of 2023. Notes 25 out of the company's 27 lessees continued to demonstrate no material rental arrears. Adds increased rent collection has been complemented by continued rental growth. As at April 30, around 62% of the group's leases had put through their 2024 annual rent increase at a weighted average uplift of 6.1%. Further, agrees heads of terms in relation to a portfolio sale with an aggregate value in excess of GBP20 million. Expects the sale to be finalised prior to the release of interim results in September. In addition, notes the investment manager has started to transfer all group properties currently leased to Parasol to Westmoreland, representing 9.6% of rent roll. Read More