REG - Home REIT PLC - Tenant update

Home ReitAnnouncement

02/08/2023 07:00

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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 Adviser)  HomeREIT@fticonsulting.com

 Dido Laurimore                           +44 (0)20 3727 1000

 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
(http://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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