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Civitas Social Housing Acquires Three Properties For GBP8 Million

LONDON (Alliance News) - Civitas Social Housing PLC on Thursday said it bought three specialist ...

Alliance News 4 October, 2018 | 9:12AM
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LONDON (Alliance News) - Civitas Social Housing PLC on Thursday said it bought three specialist supported living properties for GBP8.1 million.

The properties, which comprise of 42 tenancies, are leased to Falcon Housing Association CIC and Inclusion Housing CIC and are subject to either a 25 or 30 year lease.

The properties have been adapted for use as specialist supported living for tenants with autism, learning disabilities and other needs, and there is a care provider in place at each property, the company said.

Civitas Social Housing expects the acquisition to be immediately income-generating and intends to fund the purchase through its cash resources.

The stock was down 0.5% on Thursday at 109.50 pence per share.

By Evelina Grecenko; evelinagrecenko@alliancenews.com

Copyright 2018 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Civitas Social Housing Ord 88.50 GBX 0.11 -

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