Non-performing Home REIT tenant surrenders leases on 4% of property portfolio

Ahead of wind-up vote later this year

Another non-performing Home REIT tenant has surrendered its leases, as investment adviser AEW continues its attempt to steady the ship ahead of a wind-down vote later this year.

In a stock exchange notice today (14 August), the embattled trust said Mansit Housing CIC had agreed to surrender its leases on 68 properties, equating to around 4% of its portfolio by number of properties as at 31 July.  The trust said the majority of the properties are occupied by private rented sector tenants on Assured Shorthold Tenancies (ASTs), which will now transfer to Home REIT. Another Home REIT tenant enters into administration ahead of wind-up vote This will allow the trust to directly collect the underlying income from these properties, increasing rent collection and f...