Home REIT’s newly-appointed investment adviser AEW has taken the first steps to stabilise the trust’s property portfolio, as it transfers the leases on 100 properties to another tenant.
In a stock exchange notice today (23 August), the company said One (Housing & Support) CIC had agreed to surrender its leases on 100 properties with a total of 418 beds. Mears Limited, guaranteed by housing and social care provider Mears Group, has been occupying the properties on a sub-lease from One CIC, the trust said. These sub-leases will now transfer to Home REIT, with Mears Limited becoming a direct tenant for the remaining lease term of 6.6 years with an initial contracted annual rental income of £891,155. 'Why have all of you not resigned?': Inside Home REIT's investment...
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