Assignment of Auckland Leases to Inclusion
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13 November 2026
Living REIT plc
(the "Company" or, together with its subsidiaries, the "Group")
Assignment of Auckland Home Solutions CIC Leases to Inclusion
The Company is pleased to announce that it has agreed the assignment of 29 of its 30 leases with Auckland Home Solutions CIC (“Auckland”) to Inclusion Home CIC (“Inclusion”). The portfolio accounts for £2.1m or 4.8% of the Group’s Specialised Supporting Housing rent roll. The remaining property will be sold. The assignment is expected to complete on or before 13 November 2026.
As a result of the Investment Manager’s proactive and timely intervention, the assignment is expected to have no adverse impact on rental income and the potential for a positive impact on valuation. The assignment also results in a material upgrade to LIVE’s overall counterparty risk profile.
Auckland
Auckland is an Approved Provider that leased 30 properties from the Company. As part of the Investment Manager’s proactive approach to managing counterparty risk, and as a result of financial difficulties at Auckland, the Company decided to transfer the leases to its strongest tenant, Inclusion, which is a compliant Approved Provider.
The assignment is a proactive counterparty-risk management measure and is not a response to property underperformance.
Inclusion
Inclusion is the Company's largest lessee and recently achieved a G2 V2 compliant grading from the Regulator of Social Housing. Inclusion pays 100% of rent due under its existing leases with the Group. A single assignment to one provider supports resident continuity, rent collection and the value of the properties.
Michael Carey, Managing Director at Atrato Partners, commented:
"We are pleased to have agreed the assignment of the Auckland leases to Inclusion, a compliant, G2 V2-graded provider and our largest lessee. This proactive step improves the tenant profile of LIVE’s portfolio, has the potential for a positive impact on valuation and supports continuity for residents."
For further information, please contact:
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Living REIT plc |
Via Lauder Teacher Associates |
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Jos Short |
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Atrato Partners Limited |
ir@atratopartners.com |
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Michael Carey Natalie Markham |
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Eddie Gilbourne |
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Deutsche Numis (Strategic Adviser and Corporate Broker) |
Tel: +44 (0) 20 7545 8000 |
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Hugh Jonathan Amit Wangoo |
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Lauder Teacher (Financial PR Adviser) |
livingreit@lauderteacher.com |
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Colm Lauder Andrew Teacher Shirin Iqbal |
Tel: +44 (0) 7787 444 960 |
NOTES
Living REIT is a UK-listed real estate investment trust that aims to provide shareholders with stable, long-term, inflation-aligned income through investment in a portfolio of Living assets.
The Company invests in structurally supported areas of the UK residential property market, with a focus on delivering resilient income and positive social impact. This includes investments in specialised supported housing, senior living and care homes.
Living REIT's properties provide essential social infrastructure, supporting residents and communities whilst seeking to generate an attractive, inflation-aligned total return for shareholders.
All capitalised terms not otherwise defined in the text of this announcement have the meanings given to them in the announcement dated 17 June 2026.
The Company is listed on the closed-ended investment funds category of the FCA's Official List and its Ordinary Shares are traded on the LSE's Main Market.
Atrato Partners Limited is the Company's Investment Manager.
The Company's LEI is 213800BERVBS2HFTBC58.
Further information on the Company can be found on its website at www.livingreit.com.
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