Home REIT PLC Surrender of leases
14 August 2024 - 4:00PM
RNS Regulatory News
RNS Number : 3311A
Home REIT PLC
14 August 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
14
August 2024
Home REIT
plc
("Home REIT" or the
"Company")
Surrender of
leases
The Company announces that it has
reached an agreement with Mansit Housing CIC, a non-performing
tenant, for the surrender of its leases on 68 properties (the
"Properties") which it rents from Home REIT, equating to c.4% of
the Company's portfolio by number of properties as at 31 July
2024.
The majority of the properties are
occupied by private rented sector ("PRS") tenants on Assured
Shorthold Tenancies ("ASTs"). These ASTs will now transfer to Home
REIT, enabling the Company to directly collect the underlying
income from these properties, increasing rent collection and
facilitating asset management opportunities.
The Company will be appointing
Property Managers to the surrendered Properties, who will be
responsible for the day-to-day management and rent
collection.
The party responsible for arranging
the release of this announcement on behalf of the Company is Apex
Group.
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
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END
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