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Civitas Social Housing Buys Property Portfolio For GBP3.9 Million

LONDON (Alliance News) - Civitas Social Housing PLC said on Thursday it has acquired a ...

Alliance News 12 October, 2017 | 10:16AM
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LONDON (Alliance News) - Civitas Social Housing PLC said on Thursday it has acquired a portfolio of regulated social housing for a total of GBP3.9 million.

The portfolio comprises four supported living properties with 30 tenancies in the south-west of England.

All properties in the portfolio are subject to a 25-year lease with specialist housing association Providers of Accommodation & Support Housing Association, with rents established by the relevant local authority and adjusted annually by inflation over the period.

Each property in the portfolio has been adapted for use as a specialist supported living home for tenants with physical and or mental disabilities or other needs, with tailored support in place for tenants within the properties.

Civitas said the acquisition was funded through existing cash resources, and expects the portfolio to be immediately income generating with leverage applied later on.

Shares in Civitas Social Housing were up 1.2% at 109.75 pence on Thursday.

By Dayo Laniyan; dayolaniyan@alliancenews.com

Copyright 2017 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Civitas Social Housing Ord 85.30 GBX 0.24 -

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