7th Jan 2019 09:20
LONDON (Alliance News) - Triple Point Social Housing REIT PLC said on Monday it has acquired seven supported housing properties and entered a forward funding arrangement to develop another housing scheme for GBP14.4 million.
Comprising 70 units in total, the properties are located in the North East, Yorkshire, the West Midlands, London and the South East.
The trust entered into new full repairing and insuring leases for each of the properties for a minimum period of 20 years, with the option to extend to 25. The leases are with housing associations 28A Supported Living, Falcon Housing Association, and Inclusion CIC.
For the forward funded asset, Triple Point has entered a new FRI lease with Care Housing Association on the completion of the scheme for an initial period of 20 years, with the option to extend to 25.
Rent received under the leases will be subject to annual, upward only rent-reviews, increasing in line with the UK consumer price index.
Shares in Triple Point Social Housing REIT were up 0.2% at 98.17 pence on Monday.
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