Home REIT tenant Noble Tree Foundation has entered into administration, as the company is now working to recover leases and handover tenancies.
Noble Tree is a charity which helps vulnerable people to find housing and receive support, and was a tenant of 143 properties in Home REIT's portfolio, representing around 7% of its rent payments as of April. Back in November last year, it was revealed that Noble Tree owed Home REIT approximately £1m in rent, but it was withholding the arrears along with fellow tenant Big Help Group after allegations the manager had failed to receive promised funds to refurbish its properties. Home REIT secures surrender of leases on over 600 properties The regulator Charity Commission launched an ...
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