Civitas Social Housing PLC Response to RSH (0037J)
December 17 2020 - 5:06AM
UK Regulatory
TIDMCSH
RNS Number : 0037J
Civitas Social Housing PLC
17 December 2020
17 December 2020
CIVITAS SOCIAL HOUSING PLC
("CSH" or the "Company")
My Space Housing Solutions ("My Space") - Regulatory
Judgement
The Board of Civitas Social Housing PLC, the leading care-based
social housing REIT, ("CSH", "Civitas" or the "Company") notes the
recent regulatory judgment by the Regulator of Social Housing
("RSH" or the "Regulator") in respect of My Space, one of the 15
housing associations working with Civitas, with a G3 grading in
terms of Governance and a V3 grading in terms of Financial
Viability. These are the same gradings that have been issued in
respect of all other recent regulatory judgments for similar
housing associations. My Space has indicated that it is working to
improve the position.
As at 30 September 2020, My Space represented 1.1% of Civitas'
rent roll.
As at 17 December 2020, My Space remains fully up to date with
all lease payments due to Civitas and this is expected to continue
to be the case.
The RSH announced in May 2018 a general review of housing
associations engaged in the provision of property services for
vulnerable people.
My Space provides accommodation for working age adults with
long-term care needs that include learning disabilities, mental
health, autism and physical disability as well as for individuals
who have suffered from domestic abuse and addiction. It was
established in 2012 as a registered charity, and became a
Registered Provider regulated by the Regulator of Social Housing in
October 2013.
Any further updates will be provided as and when
appropriate.
ENDS
For further information, please contact:
Civitas Investment Management Limited
Paul Bridge Tel: +44 (0)20 3058 4844
Andrew Dawber Tel: +44 (0)20 3058 4846
Panmure Gordon
Sapna Shah Tel: +44 (0)20 7886 2783
Tom Scrivens Tel: +44 (0) 20 7886 2648
Liberum Capital Limited
Gillian Martin / Chris Clarke Tel: +44 (0) 20 3100 2222
Buchanan
Helen Tarbet / Henry Wilson Tel: +44 (0) 20 7466 5000
Hannah Ratcliff / George Beale civitas@buchanan.uk.com
Notes:
Civitas Social Housing PLC (CSH) was created in 2016 by Civitas
Investment Management Limited as the first dedicated London listed
REIT, to raise long-term, sustainable, institutional capital to
invest in care-based social homes across the UK. So far, CSH has
completed more than 120 individual transactions to build the
largest portfolio of its kind that has been independently valued on
an IFRS basis at GBP898.5 million. CSH provides homes for 4,292
working age adults with long-term care needs, in 618 bespoke
properties that are supported by 118 specialist care providers, 15
housing associations over 164 individual local authority areas.
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END
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