REG - Home REIT PLC - Property valuation and trading update

Home ReitAnnouncement

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RNS Number : 5870F  Home REIT PLC  31 October 2025

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

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

FOR IMMEDIATE RELEASE

 

31 October 2025

 

Home REIT plc

 

Property valuation and trading update

 

Home REIT plc (LSE: HOME) ("HOME" or the "Company"), today announces an
updated property valuation and associated trading update.

 

Jones Lang LaSalle ("JLL") has issued its draft valuation report on the
Company's property portfolio for the period ended 31 August 2025, which is
presented below. The valuation for the period ended 28 February 2025 is also
presented for comparison purposes.

 

                       31 August 2025  28 February 2025
 Number of properties  853             860
 Portfolio valuation   £155.7m         £169.0m

 

In line with the JLL valuation as at 28 February 2025, the majority of the
portfolio (70% by number of properties) has been valued on a vacant possession
basis, with the remainder at investment value, and on an individual property
basis. The reduction in the property valuation is principally a result of
adjustments to the basis of valuation for properties held at investment value.
This has resulted in a reduction to the cap of vacant possession value at
which these properties with leases are held (126% of MV-VP versus 154% of
MV-VP previously). Further, JLL applied a discount to vacant possession value
for supported living properties which are not on a direct lease. The overall
valuation has also decreased due to specific factors for individual
properties.

The valuation has been prepared in accordance with the current Royal
Institution of Chartered Surveyors' Valuation - Global Standards, effective
from January 2025, incorporating the IVS and the current UK national
supplement. The valuation in the table is unaudited and may be subject to
amendment as part of the completion of the formal audit process for the year
ended 31 August 2025.

 

Historic Accounts Update

The unaudited interim accounts for the periods ending 28 February 2024 and 28
February 2025 are expected to be published by the end of 2025. The process for
the audit and publication of the Company's annual results for the period
ending 31 August 2025 has commenced, with the results expected to be published
in the first quarter of 2026.

 

The Board and AEW remain committed to the restoration of trading in the
Company's ordinary shares as soon as practicable.

 

Financial Position Update

At the period ended 31 August 2025, the Company had £9.6m of cash. The
Company's cash together with rental income are expected to be sufficient to
fund the Company's operational expenses and fees during the managed wind-down
and for the next twelve months.

 

Portfolio Sale Update

After an extensive marketing campaign commenced in Q4 2024, non-binding offers
were received for the full portfolio in February 2025 and due diligence is
progressing. The Company anticipates that the portfolio sale process will
conclude in the fourth quarter of 2025. However, there is no assurance that
the portfolio sale will progress under the current expected timeline or with
terms which are acceptable to the Board. AEW continues to undertake asset
management initiatives focused on adding value to the portfolio and preparing
them for sale.

 

Litigation

There have been no material changes with regards to the potential shareholder
group litigation, the FCA investigation, or the Company's pursuit of legal
action. Any relevant announcements in this regard will be made at the
appropriate time.

 

 

The person responsible for arranging the release of this announcement on
behalf of the Company is Apex Group.

FOR FURTHER INFORMATION, PLEASE CONTACT:

 

 FTI Consulting (Communications Adviser)  HomeREIT@fticonsulting.com

 Dido Laurimore                           +44 (0)20 3727 1000

 Bryn Woodward

 Oliver Harrison

 

The Company's LEI is: 213800A53AOVH3FCGG44.

 

For more information, please visit the Company's website: www.homereituk.com
(http://www.homereituk.com/)

 

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