Home REIT PLC Property Sales
28 March 2024 - 6:00PM
RNS Regulatory News
RNS Number : 5985I
Home REIT PLC
28 March 2024
NOT
FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART,
DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION WHERE TO
DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR
REGULATIONS OF SUCH JURISDICTION
FOR
IMMEDIATE RELEASE
28
March 2024
Home REIT
plc
("Home REIT" or the
"Company")
Property
Sales
The Company announces that at a
series of public auctions held over the last two days, the Company
has exchanged on the sale of a further 63 properties (the "Sale
Properties"). Gross proceeds for the sales were £6.1m, representing
1.8% of the Company's portfolio by value (based on JLL's August 2023 draft
valuation).
The gross proceeds from the Sale
Properties are £0.5m (7.7%) below the draft August 2023 values. The
majority of the properties sold are below portfolio average lot
size (as was the case in auctions completed in January and
February) which may cause a greater percentage variation when
comparing sale price to the August draft valuation.
Since August 2023,
the Company has completed
on the sale of 451 properties and exchanged on a further 257
properties. The gross proceeds from
properties sold and exchanged totals £95.5m, which in aggregate is
in line with the August 2023 draft valuation.
Sale proceeds will be used to reduce
borrowings and provide working capital.
FOR
FURTHER INFORMATION, PLEASE CONTACT:
FTI Consulting (Communications
Adviser)
Dido Laurimore
Eve Kirmatzis
Oliver Harrison
|
HomeREIT@fticonsulting.com
+44 (0)20
3727 1000
|
The Company's LEI is:
213800A53AOVH3FCGG44.
For more information, please visit
the Company's website: www.homereituk.com
Inside Information
The information contained within
this announcement is deemed by Home REIT to constitute inside
information as stipulated under the Market Abuse Regulation (EU)
no. 596/2014 (as it forms part of domestic law by virtue of the
European Union (Withdrawal) Act 2018). On the publication of this
announcement via a Regulatory Information Service, this inside
information is now considered to be in the public
domain.
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END
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