Walls & Futures REIT PLC Statement re First Supported Housing Investment (3780E)

TIDMWAFR

RNS Number : 3780E

Walls & Futures REIT PLC

08 May 2017

Walls & Futures REIT plc

   (Epic:    WAFR) 
   Statement re:   First Supported Housing Investment

Walls & Futures REIT plc ("the Company") is pleased to announce that it has completed on its first residential investment in the Supported Housing Sector.

The Company has acquired the freehold of a detached grade two listed building, in the Cotswold market town of Stroud, for GBP475,000. The Company has also committed to contribute towards the improvement and redevelopment of the property that is due to be carried out over the next 3 to 4 months. Once those works are completed the property will provide a high quality home and specialist support to six adults with physical & learning disabilities and/or mental health needs.

The property is being let on a 25-year full repairing and insuring lease, with rents adjusted annually in line with inflation (CPI), to one of the UK's leading care providers who has more than 50 years of experience and expertise in the sector and currently supports more than 2,500 adults nationwide.

Joe McTaggart, chief executive of Walls & Futures REIT plc said

"This marks a significant milestone for the company as the first of many investments in the supported housing sector.

We believe it demonstrates our commitment to both adding much needed capacity to the sector and to providing quality homes that deliver a range of accommodation solutions to adults with disabilities.

The initial net yield is in line with expectations and will make a significant impact on our target to deliver long term sustainable income for shareholders. We continue to develop our pipeline and expect to make further announcements in the future."

For further information please contact:

WALLS & FUTURES REIT plc

 
 Joe McTaggart                             0207 340 8677 
  Chief Executive                joe@wallsandfutures.com 
 
   3(rd) Floor 
   111 Buckingham Palace Road 
   London 
   SW1W 0SR 
 
   www.wallsandfutures.com

CITY & MERCHANT

 
 David Papworth                    0207 101 7676 
                        info@cityandmerchant.com 
 55 Old Broad Street 
  London 
  EC2M 1RX

Note to Editors:

Walls & Futures REIT plc is a Real Estate Investment Trust committed to delivering long-term income and capital growth by investing in residential property across the UK.

The company acquires, develops and manages residential property, with a particular focus on London and the South East for the private rental sector and countrywide for the supported housing sector.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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May 08, 2017 02:15 ET (06:15 GMT)

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