Home REIT has exited the UK REIT regime after it sold the final four properties in its portfolio.
Home REIT’s board announced plans to implement a managed wind-down of the business in 2024 and earlier this year the REIT agreed a deal to sell 706 properties to Patron Capital for £123m.
The company exchanged on the sale of the final four properties in the portfolio last month and of the 144 properties excluded from the transaction with Patron Capital, total gross sales proceeds of £16,140,780 have been achieved from the sale of properties at auction versus the equivalent August 2025 valuation of £17,350,000, representing a discount of 7%.
Following completion of the remaining outstanding property sales, it is anticipated that the company’s wholly-owned subsidiaries Home Holdings 1 Limited, Home Holdings 2 Limited, Home Holdings 3 Limited and Home Holdings 4 Limited, will enter voluntary liquidation.
Home REIT previously indicated that its ability to make distributions to shareholders was constrained while it faces potential group litigation or other claims, and in an update the company said it was “working intensively” with its advisers in relation to these matters and expects to update shareholders following commencement of the liquidations.
Michael O’Donnell, non-executive chairman of Home REIT, said: “While the ongoing threat of litigation remains, the sale of all the remaining outstanding properties represents a further important milestone in the execution of the managed wind-down strategy, and the process of liquidating subsidiaries will move the company closer to returning any capital to shareholders.”
