Jamie Beale, partner and fund manager of the £611m Home REIT, which funds the acquisition and creation of accommodation for homeless people, said “self-discipline” is what allows the trust to offer rates significantly below the average market rate.
The trust, which was the winner of the Best New Issue award at Investment Week's Investment Company of the Year Awards, offers properties with an average weekly rent of £90 per bed, well below market prices where the weekly B&B rate is around £225, according to the annual report issued in August. The REIT operates by purchasing properties and letting them to partners, such as registered charities, which then provide low-cost accommodation to homeless people along with care, training and other necessary support to help residence reintegrate back into society. At IPO the trust said tha...
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