6th Aug 2018 10:58
LONDON (Alliance News) - Civitas Social Housing PLC on Monday said it completed the purchase of two specialist supported living properties and one registered care property for GBP3.9 million.
The properties, comprising of 15 tenancies in total, have been adapted for use as specialist supported living and residential care accommodation for tenants with legionnaires disease, autism and other care needs, with a care provider in place at each property. The properties are subject to 25-year leases.
The specialist supported living properties will be managed by Inclusion Housing CIC and Falcon Housing Association CIC, while the registered care property will be managed by Bespoke Supportive Tenancies Ltd. The portfolio was funded through Civitas cash resources.
Looking forward, the company said it expects to complete a number of material acquisitions in the near term with an expected value of GBP100 million.
Shares in Civitas were trading 0.3% higher on Monday at 103.30 pence each.
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