Home REIT, an investment firm set up to buy accommodation for the homeless and now in the process of being wound down, has received interest from a “significant” number of potential buyers for its remaining portfolio.
The company put its remaining properties up for sale last November, with JLL, TT&G and Allsop marketing the portfolio.
In a stock exchange update, the company said non-binding offers were received for the portfolio in February and due diligence is progressing, with the sale process expected to complete during the third quarter.
“Despite the wider real estate investment market being tempered by prevailing economic and geo-political uncertainties, the UK residential market remains of interest to a wide investor base,” the company said. “House prices have shown resilience with certain regions and sub-sectors of the market attracting increased investment, however challenges such as policy changes, regional disparities, and economic uncertainties persist.”
JLL’s unaudited total fair value of the company’s property portfolio as at 28 February is £169m.
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