Civitas Social Housing’s rental income rose by 6% in the six months ended 30 September and it remains bullish in its outlook for next year, seeing “compelling opportunities to invest further”.
The REIT’s rental income rose to £24.1m from £22.7m the year before. Its annual rent roll also increased by 6.45% to £49.5m from £46.5m.
During the period, the REIT acquired two additional properties with a combined 51 beds for £15.6m, bringing its portfolio up to 618 properties providing homes to 4,292 people.
It has identified a £180m pipeline and is looking at funding options, including a new debt facility.
Chairman Michael Wrobel said the REIT was “committed to generating growth”.
He added: “We see compelling opportunities for growth, and we look forward to the future with confidence.”
To send feedback, e-mail lucy.alderson@egi.co.uk or tweet @LucyAJourno or @estatesgazette
