5th Dec 2018 08:15
LONDON (Alliance News) - Civitas Social Housing PLC on Wednesday said it bought five regulated social housing properties for a total of GBP4.0 million.
The properties, which comprise 27 tenancies, are leased to Bespoke Supportive Tenancies Ltd, Chrysalis Supported Association Ltd and Encircle Housing Ltd, all regulated providers.
Civitas said that the properties will be "immediately income-generating" with an initial net yield in line with the company's views.
Furthermore, Civitas added that the acquisition of 15 regulated social housing properties for GBP20.7 million is expected to complete "shortly" after satisfaction of certain "outstanding matters".
Civitas shares were up 0.6% at 100.59 pence Wednesday morning.
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