Triple point social housing REIT buy six properties for £11m

Triple point social housing REIT buy six properties for £11m

Triple Point Social Housing REIT PLC said on the 18th December that it had acquired six supported housing properties in a GBP10.7 million portfolio deal.

The real estate investment company said the properties comprised of 88 units, 80 of the units were located in Lancashire with the remainder in Sussex. They are composed of specialist homes for those with mental health and other care needs.

All the properties have newly-arranged full repairing and insuring leases for 20 years with the ability to extend to 25 years.

All leases are with providers are regulated by the UK Homes & Communities Agency. These are My Space Housing Solutions, Falcon Housing Association and Auckland Home Solutions.

The properties also come with annual, upward-only rent reviews. The rent increases will be in line with the consumer prices index.

The current acquisition follows a string of deals since its GBP200 million IPO in August. Since the start of December, Triple Point acquired 24 properties for a combined GBP51.2 million. In November it acquired a total six properties for a combined GBP11.3 million. In October, the company acquired fourteen properties for GBP15.7 million.

Shares in Triple Point Social Housing were untraded at 104.375 pence on the 18th December.

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