Home REIT, the troubled investment firm specialising in accommodation for homeless people now being wound down, is hoping to sell its last properties in a bulk portfolio after months of offloading assets piecemeal at auction.
The company has approximately 1,100 properties left, valued at around £200m, according to analysis of stock market filings, although people close to the company say properties could have been sold since the REIT last updated the market with a monthly report.
JLL and Allsop were hired earlier this year to handle the REIT’s disposals. At the time of their appointment, the firm said it would consider “auction, private treaty, portfolio and individual asset sales”.
Home REIT had been selling properties via public auction even before a failure to refinance borrowing with Scottish Widows led it to launch a managed wind-down.
The remaining properties are now set to be marketed as a portfolio deal.
Last month, the company posted its long-delayed 2022 results, reporting a loss of almost £475m for the year to 31 August 2022, with net asset value per share more than halving to 43.7p.
Photo © Home REIT
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