5th Apr 2016 09:26
LONDON (Alliance News) - Specialist Investment Properties PLC on Tuesday said it is in talks with developers, property owners and care operators to make acquisitions in the children's homes and supported-living sectors.
Given the number of acquisition opportunities currently in negotiation, Specialist Investment Properties said, the company expects to invest the proceeds of its February GBP2.1 million fundraising within the three to six month timeframe intended.
"The initial average gross rental yield from the most advanced acquisition opportunities currently identified and in discussion is expected to exceed 8.0% per annum," the company said in a statement.
The company invests in purpose built homes for adults with learning difficulties requiring support from carers, together with purpose built care homes for the elderly. It invests also in converted dwellings accommodating young adults and late teens in need of support from social services.
Specialist Investment Properties made a loss before and after tax of GBP166,000 in 2015, widening from GBP142,000 in 2014 as a result of administrative expenses.
Shares in Specialist Investment Properties were untraded at 18.62 pence on Tuesday.
By Samuel Agini; [email protected]; @samuelagini
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