Tenant update

Home REIT PLC

02 August 2023

 

2 August 2023

Home REIT plc

("Home REIT" or the "Company")

Tenant update

The Company announces that Redemption Project CIC, a tenant of 152 properties in the Company's portfolio making up 11% of rent demanded in June, has entered into creditors' voluntary liquidation, with Begbies Traynor Group appointed as liquidator. Serenity Support CIC, a tenant of 10 properties in the Company's portfolio, making up 1% of rent demanded in June, has also entered into creditors' voluntary liquidation, with Cornerstone Business Recovery appointed as liquidator.

Both of these tenants are non-performing, and the creditor's voluntary liquidation unlocks the ability for the Company to re-tenant the properties or to carry out other asset management initiatives as soon as possible. The Company is working with the respective liquidators to ensure a smooth handover in an attempt to minimise any potential disruption to underlying occupants and to stabilise the portfolios going forwards. Furthermore, discussions with other prospective tenants to take on new leases on the properties have already commenced.

It should be noted that whilst discussions with prospective tenants are ongoing, arrangements are being made for existing care and support services for the underlying residents to continue.

Further updates will be provided in due course.

FOR FURTHER INFORMATION, PLEASE CONTACT:

FTI Consulting (Communications Adviser) Dido Laurimore Eve Kirmatzis Ellie Perham-Marchant Oliver Harrison

[e-mail] [phone]

The Company's LEI is: 213800A53AOVH3FCGG44.

For more information, please visit the Company's website: www.homereituk.com

Inside Information

The information contained within this announcement is deemed by Home REIT to constitute inside information as stipulated under the Market Abuse Regulation (EU) no. 596/2014 (as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018). On the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

 

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