Walls & Futures REIT - Statement re First Supported Housing Investment London Stock Exchange
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 £475,000. 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

Chief Executive

0207 340 8677

joe@wallsandfutures.com

 

3rd 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
 
 
STRKMGGKDKDGNZM ]]>