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
23
October 2024
Home REIT
plc
("Home REIT" or the
"Company")
Property Sales and Debt
Repayment Update
The Company announces that at a
series of public auctions held on the 21st and
22nd of October, the Company has
exchanged on the sale of a further 152 properties (the "Sale
Properties"). Gross proceeds for the sales were £26.8m,
representing 11.0% of the Company's portfolio by value
(based on JLL's February 2024 draft
valuation).
The Board is pleased to announce
that following the October auctions, sufficient proceeds to fully
repay the outstanding Scottish Widows loan will be realised upon
completion of the outstanding sale properties. The Company
therefore expects to repay the remaining loan amount, which
amounted to £72.0m as at 30 September 2024, before the end of the
year.
Since August 2023, the Company has
completed on the sale of 1,229 properties and exchanged on a
further 415 properties. The gross proceeds from properties sold and
exchanged totals £243.3m, which in aggregate is in line
with JLL's August 2023 and February 2024 draft
valuations.
FOR
FURTHER INFORMATION, PLEASE CONTACT:
|
FTI Consulting (Communications
Adviser)
Dido Laurimore
Bryn Woodward
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.