Residential Secure Income REIT has continued to grow as it focuses on retirement homes.
The REIT’s results, published this morning, show a portfolio of 3,284 homes valued at £383m, up from 3,051 homes valued at £351m at September 2021. Some 57% of those are retirement properties.
The REIT has also extended its reach, with 926 unique locations, against 793 last year.
Rental income was up to £16m, with rental profit increasing by 36% to £8.4m.
Chair Robert Whiteman said: “We are pleased with ReSI’s continued growth in FY 2022 driven by improving retirement occupancy, strong like-for-like rental growth, full occupation of our shared ownership portfolio, and accretive acquisitions, all underpinned by consistent rent collection – positioning ReSI well for next year.”
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