Civitas Social Housing To No Longer Enter Leases With First Priority

LONDON (Alliance News) - Civitas Social Housing PLC confirmed on Wednesday it is in talks with ...

Alliance News 21 February, 2018 | 6:06PM
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LONDON (Alliance News) - Civitas Social Housing PLC confirmed on Wednesday it is in talks with the management of First Priority Housing Association to assist with its current situation, but will not enter any new leases with it until

According to press reports, the housing association was placed under review in January, following a report by the Regulator of Social Housing stating that it did not meet requirements for governance or viability.

Civitas, which leases 45 properties to First Priority, said that all rents have been received from it in full up to end of January.

Civitas does not expect any inability to meet payments on First Priorty's behalf to affect its dividend targets.

However Civitas will not be entering into any new leases with First Priority from this point forward.

Shares in Civitas Social Housing closed down 0.5% at 106.00 pence on Wednesday.

By Dayo Laniyan;

Copyright 2018 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Civitas Social Housing Ord 99.30 GBX 0.81 -

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