William Eichler 17 May 2022

Trust seeks £150m to acquire more homes to rent to councils

Trust seeks £150m to acquire more homes to rent to councils image
Image: I Wei Huang/Shutterstock.com.

Real estate investment trust Home REIT is looking to raise £150m to support its plans to acquire more homes to let out to charities and councils.

Home REIT currently has a portfolio of over 8,500 houses and small blocks of flats that it has acquired, renovated, and rented out to tenants like charities and councils, typically for periods of 20 or 30 years.

Working closely with 118 local authorities, Home REIT provides 8,556 beds to homeless people across the UK, with 28 tenants across England.

The company yesterday launched a Subsequent Placing of new Ordinary Shares targeting a raise of approximately £150m at a price of 115 pence per Ordinary Share.

Lynne Fennah, chair of Home REIT, commented: ‘This Placing will significantly enhance our capacity to invest in the provision of high-quality accommodation for homeless people across the UK at a time of grave necessity.

‘The proceeds will enable us to continue expanding our existing portfolio which is generating inflation-protected income, utilising our strong pipeline of off-market opportunities, and work with our local partners to provide essential long-term support to some of the UK's most vulnerable people.’

SIGN UP
For your free daily news bulletin
Highways jobs

Clinical Lead, North Essex

Essex County Council
Negotiable
Clinical Lead, North EssexPermanent, Full TimeUp to £57,869 per annumLocation
Recuriter: Essex County Council

Assistant Director Legal,&Governance/Monitoring Officer

Rochdale BC
£70,340 - £81,589
The Assistant Director role has breadth of responsibility beyond legal services incorporating Constitutional and Democratic Services Rochdale, Greater Manchester
Recuriter: Rochdale BC

Inspector

Cambridgeshire County Council
£28,226 - £30,095
The Street Works Team currently has a vacancy for a Street Works Inspector. Cambridgeshire, Various places-working out of office base.
Recuriter: Cambridgeshire County Council

Purchase Ledger Officer

Telford & Wrekin Council
£19,650 - £20,043
The Revenues Service is looking to recruit a Purchase Ledger Officer to cover maternity leave in our busy Purchase Ledger team. Darby House, Telford
Recuriter: Telford & Wrekin Council

Specialist Behaviour and Inclusion Keyworker

City of Bradford MDC
£22,129 - £27,514 pa (Pro rata for Part Time Posts)
The role is to support parents/carers to implement changes in behaviour and lifestyle that improve outcomes for children and young people. Based at Specialist Behavioural Services
Recuriter: City of Bradford MDC

Partner Content

Circular highways is a necessity not an aspiration – and it’s within our grasp

Shell is helping power the journey towards a circular paving industry with Shell Bitumen LT R, a new product for roads that uses plastics destined for landfill as part of the additives to make the bitumen.

Support from Effective Energy Group for Local Authorities to Deliver £430m Sustainable Warmth Funded Energy Efficiency Projects

Effective Energy Group is now offering its support to the 40 Local Authorities who have received a share of the £430m to deliver their projects on the ground by surveying properties and installing measures.

Pay.UK – the next step in Bacs’ evolution

Dougie Belmore explains how one of the main interfaces between you and Bacs is about to change.