Home REIT PLC Property Sales
August 02 2024 - 2:00AM
RNS Regulatory News
RNS Number : 8950Y
Home REIT PLC
02 August 2024
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
2
August 2024
Home REIT
plc
("Home REIT" or the
"Company")
Property
Sales
The Company announces that at a
series of public auctions held over the last three days,
the Company has exchanged on the sale of a further
226 properties (the "Sale Properties"). Gross proceeds for the
sales were £26.5m, representing c.9% of the Company's portfolio by
value (based on JLL's August 2023 draft
valuation). The
gross proceeds from the Sale Properties are 8.1% below the
draft August 2023 values. The majority of the properties sold are
below portfolio average lot size which may cause a greater
percentage variation when comparing sale price to the August draft
valuation.
Since August 2023, the Company has
completed on the sale of 914 properties and exchanged on a further
287 properties. The gross proceeds from properties sold and
exchanged totals £163.1m, which in aggregate is in line with the
August 2023 draft valuation.
Sale proceeds will be used to reduce
borrowings and provide working capital.
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.
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END
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