Home REIT bags £26.5m from sale of additional 226 properties

8.1% below draft valuation

Home REIT has sold an additional 226 properties at a series of public auctions over the last three days, with gross proceeds totalling £26.5m.

In a stock exchange notice today (2 August), the trust said the properties represented around 9% of its portfolio by value. The gross proceeds were 8.1% below the draft valuation of August 2023, but Home REIT noted the majority of the properties sold "are below portfolio average lot size, which may cause a greater percentage variation when comparing sale price to the August draft valuation". Home REIT proposes managed wind-down as 'strategy faces considerable challenges' Over the last year, the trust had sold a total of 914 properties and exchanged on a further 287, with gross proc...