Residential Secure Income buys 68 share-ownership homes for £5.1m

Wed, 17th Mar 2021

Housing investor Residential Secure Income said it had acquired 68 shared ownership homes from Metropolitan Thames Valley Housing for £5.1 million. Residential Secure Income (ReSI) said the deal followed a partnership between the two companies in in London and Cambridgeshire that delivered 138 shared ownership homes during 2020. The newly acquired properties, located in a Swindon development, comprised 53 apartments and 15 houses, in low-rise brick buildings. The average share already owned by residents in their homes was 44%. 'The properties are immediately earnings enhancing for ReSI and generate an expected inflation-linked leveraged yield in line with ReSI's 8% total return and around 5% dividend targets,' the company said. At 9:23am: (LON:RESI) Residential Secure Income Plc share price was 0p at 91p Story provided by StockMarketWire.com

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