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Civitas Social Housing Buys Property Portfolio For GBP3.1 Million

LONDON (Alliance News) - Civitas Social Housing PLC on Monday said it has bought a portfolio of ...

Alliance News 23 October, 2017 | 9:09AM
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LONDON (Alliance News) - Civitas Social Housing PLC on Monday said it has bought a portfolio of specialist supported-living properties for a total GBP3.1 million.

The portfolio comprises of 18 properties and leasehold interest in one property, with 30 tenancies, in the West Midlands. The portfolio is immediately income-generating, Civitas said, with initial net yield in line with its expectations.

Each property is subject to a 22 year lease with a specialist housing association, with rents established by the relevant local authority.

The acquisition was funded through its cash resources, Civitas said.

Shares in Civitas were up 1.1% at 111.25 pence Monday.

By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews

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 88.29 GBX -0.13 -

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