11th Dec 2018 12:05
LONDON (Alliance News) - Triple Point Social Housing REIT PLC said Tuesday it has completed the acquisition of 24 supported housing properties for GBP24.2 million.
The properties comprise 143 units in total, with 20 in the north east, 62 in the east midlands, eight in the west midlands, nine in the south east, 18 in the south west and 26 in the south.
Triple Point Social Housing signed new full repairing and insuring leases for each of the properties for a minimum period of 20 years with the ability to extend to 25 years.
The rent for the properties is subject to an annual, upward-only rent review - increasing in line with the consumer price index.
Triple Point Social Housing said the properties are specialist, high quality homes refurbished for individuals with mental health and other support and care needs.
The properties are expected to generate net initial yields in line with the company's investment criteria and returns profile.
Shares in Triple Point Social Housing were flat Tuesday at 99.80 pence each.
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