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Civitas purchases £18,5M social housing portfolio

12 July 17 - RE+D Magazine
Civitas purchases £18,5M social housing portfolio

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Antulio Richetta

Director IBI Group
Civitas Social Housing PLC said on Wednesday it has acquired a portfolio of regulated social housing for a total of GBP18.5 million.

 

The portfolio, according to lse.co.uk, comprises of 41 properties with 194 tenancies in North East England.

All properties in the portfolio are subject to a 25-year lease with specialist housing association New Walk CIC, with rents established by the relevant local authority and adjusted annually by inflation over the period.

Civitas said the purchases were funded through cash resources.

Shares in Civitas Social Housing were up 0.2% at 106.75 pence on Wednesday.

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