Home REIT tenant One (Housing & Support) CIC has been placed into administration.
One CIC is a tenant in 110 properties in the Home REIT portfolio, reflecting 7% of the total count.
Evelyn Partners is acting as administrator to One CIC.
Myshon, a specialist intensive housing manager with a focus on specialist supported housing, supported housing and affordable housing, will be appointed by the administrator to manage the handover of properties.
The leases will be surrendered to Home REIT and relet.
The loss of another tenant from Home REIT’s portfolio comes as the embattled business seeks to wind down. The value of the group’s 1,560-strong portfolio is now just £282.1m, down from £412.9m a year ago.
Rental income has dropped by 72% over the period to £15.3m.
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