Home REIT says it has received offers from “a number of credible parties” for the remaining assets in its portfolio, which are being marketed for sale as part of the managed wind down of the business.
In a trading update issued earlier today in advance of the company’s annual general meeting, the board of Home REIT and investment manager AEW UK investment Management, said: “The company is encouraged by the level of interest and the non-binding offers which were received for the full portfolio in mid-February. A number of credible parties have been selected to proceed to the next stage of the process. Further updates will be provided in due course.”
Since August 2023, Home REIT has completed the sale of 1,611 properties and exchanged on 11 more, raising gross proceeds of £239.8m. As at 31 January 2025, the number of properties left in the portfolio totalled 862.
The REIT said it had collected rent of £1m for January 2025 compared with £400,000 in January 2024, primarily as a result of action taken to remove non-performing tenants and re-tenanting assets where appropriate and appointing property managers.
Home REIT said it intended to publish the unaudited interim financial results for the period ended 28 February 2023 in March 2025, the unaudited interim results for the period ended 29 February 2024 in April 2025, and the annual report and accounts for the year ended 31 August 2024 in Q2 2025.
The board of Home REIT added it intended to restore trading in the company’s ordinary shares as “soon as is practically possible” and following publication of all the outstanding financial results an application to the FCA for restoration of the company’s listing would be made.
