Response to RSH

RNS Number : 1069S

Civitas Social Housing PLC

12 March 2021

 

12 March 2021

CIVITAS SOCIAL HOUSING PLC

Response to RSH

The Board of Civitas Social Housing PLC, the   leading care-based social housing REIT,   ("Civitas" or the "Company") notes the 'grading under review' announcement by the Regulator of Social Housing ("RSH") in respect of Auckland Home Solutions CIC ("Auckland"), one of the 16 approved providers working with Civitas.  

As at 12 March 2021, Auckland represented 23.9% of Civitas' rent roll with all lease payments due to Civitas fully up to date and this is expected to continue to be the case in the future.

The RSH announced in May 2018 a general review of housing associations engaged in the provision of property services for vulnerable people. Auckland's review is part of this regulatory process.

Auckland provides housing for vulnerable adults in England and Wales, enabling individuals with complex physical and mental challenges to retain their independence within a supported living setting. Auckland is a member of the Social Housing Family, a not-for-profit community interest company established to assist member firms to enhance corporate governance standards and to benefit from sharing of best practise expertise.

 Further updates will be provided as and when appropriate.

ENDS

For further information, please contact:

Civitas Investment Management Limited

Paul Bridge                                       Tel: [phone]

Andrew Dawber                                   Tel: [phone]

Panmure Gordon

Sapna Shah                                           Tel: [phone]

Tom Scrivens Tel: [phone]

Liberum Capital Limited

Gillian Martin / Chris Clarke Tel: [phone]

Buchanan

Helen Tarbet / Henry Wilson   Tel: [phone]

Hannah Ratcliff / George Beale    [e-mail]

Notes:

Civitas Social Housing PLC (CSH) was created in 2016 by Civitas Investment Management Limited as the first dedicated London listed REIT, to raise long-term, sustainable, institutional capital to invest in care-based social homes across the UK. So far, CSH has completed more than 120 individual transactions to build the largest portfolio of its kind that has been independently valued on an IFRS basis at £901.1million. CSH provides homes for 4,295 working age adults with long-term care needs, in 619 bespoke properties that are supported by 118 specialist care providers, 16 approved providers over 164 individual local authority areas.

 

END

 

 

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