Home REIT PLC Tenant update (9800H)
August 02 2023 - 2:00AM
UK Regulatory
TIDMHOME
RNS Number : 9800H
Home REIT PLC
02 August 2023
2 August 2023
Home REIT plc
("Home REIT" or the "Company")
Tenant update
The Company announces that Redemption Project CIC, a tenant of
152 properties in the Company's portfolio making up 11% of rent
demanded in June, has entered into creditors' voluntary
liquidation, with Begbies Traynor Group appointed as liquidator.
Serenity Support CIC, a tenant of 10 properties in the Company's
portfolio, making up 1% of rent demanded in June, has also entered
into creditors' voluntary liquidation, with Cornerstone Business
Recovery appointed as liquidator.
Both of these tenants are non-performing, and the creditor's
voluntary liquidation unlocks the ability for the Company to
re-tenant the properties or to carry out other asset management
initiatives as soon as possible. The Company is working with the
respective liquidators to ensure a smooth handover in an attempt to
minimise any potential disruption to underlying occupants and to
stabilise the portfolios going forwards. Furthermore, discussions
with other prospective tenants to take on new leases on the
properties have already commenced.
It should be noted that whilst discussions with prospective
tenants are ongoing, arrangements are being made for existing care
and support services for the underlying residents to continue.
Further updates will be provided in due course.
FOR FURTHER INFORMATION, PLEASE CONTACT:
FTI Consulting (Communications HomeREIT@fticonsulting.com
Adviser) +44 (0)20 3727 1000
Dido Laurimore
Eve Kirmatzis
Ellie Perham-Marchant
Oliver Harrison
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
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END
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