Home REIT sells another 103 properties for £6.6m
The gross proceeds from the sale were £0.6m (8.4%) below the draft August 2023 values, however Home REIT said, “positive and negative variations between the sales price and draft valuation are to be anticipated”.
Gross proceeds for the sales were £6.6m representing 1.6% of the Company's portfolio by value, based on Jones Lang LaSalle's August 2023 draft valuation.
The sale occurred at a public auction held on 23 January and are expected to complete on a month's time.
Entire Home REIT board commits to step down on publication of results as chair Fennah replaced
The gross proceeds from the sale were £0.6m (8.4%) below the draft August 2023 values, however Home REIT said, «positive and negative variations between the sales price and draft valuation are to be anticipated».
So far this year, the trust has offloaded 201 of the properties on its books as part of the boards attempts to «stabilise», the trust and deliver value back to its shareholders amid the continuing crisis for the portfolio.
The sale of its assets began back in August 2023.
Last week, the entire board of Home REIT committed to stepping down upon the publication of its long awaited results, and its chair Lynne Fennah ended her tenure with immediate effect.
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