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
15
February 2024
Home REIT
plc
("Home REIT" or the
"Company")
Property
Sales
The Company announces that at a
public auction held on the 14 February 2024, the Company has
exchanged on the sale of a further 117 properties (the "Sale
Properties"). Gross proceeds for the sales were £5.6m representing
1.4% of the Company's portfolio by value (based on JLL's August 2023 draft
valuation), with completion expected in
approximately one month's time.
The gross proceeds from the Sale
Properties are £1.02m (15.5%) below the draft August 2023 values.
The majority of the properties sold are below portfolio average lot
size (as was the case in the January auction) which may cause a
greater percentage variation when comparing sale price to the
August draft valuation.
Sale proceeds will be used to reduce
borrowings and provide working capital.
A further property is expected to be
entered into a public auction today, 15 February 2024, the result
of which will be included in the summary provided at the Company's
next monthly update.
The person responsible for arranging
the release of this announcement on behalf of the Company is FTI
Consulting.
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.