NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION
FOR IMMEDIATE RELEASE
14 August 2024
Home REIT plc
("Home REIT" or the "Company")
Surrender of leases
The Company announces that it has reached an agreement with Mansit Housing CIC, a non-performing tenant, for the surrender of its leases on 68 properties (the "Properties") which it rents from Home REIT, equating to c.4% of the Company's portfolio by number of properties as at 31 July 2024.
The majority of the properties are occupied by private rented sector ("PRS") tenants on Assured Shorthold Tenancies ("ASTs"). These ASTs will now transfer to Home REIT, enabling the Company to directly collect the underlying income from these properties, increasing rent collection and facilitating asset management opportunities.
The Company will be appointing Property Managers to the surrendered Properties, who will be responsible for the day-to-day management and rent collection.
The party responsible for arranging the release of this announcement on behalf of the Company is Apex Group.
FOR FURTHER INFORMATION, PLEASE CONTACT:
| FTI Consulting (Communications Adviser) Dido Laurimore Eve Kirmatzis Oliver Harrison | HomeREIT@fticonsulting.com +44 (0)20 3727 1000 |
The Company's LEI is: 213800A53AOVH3FCGG44.
For more information, please visit the Company's website: www.homereituk.com
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