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LONDON (Alliance News) - Property management company Dukemount Capital PLC said Monday it has signed a 30-year lease agreement with social care landlord Inclusion Housing.
The GBP168,740 per annum deal was struct as Dukemount exchanged contracts with the vendor of the property, subject to planning permission for additional rooms.
Dukemount's second acquisition in north west England "continues to move forward" after it agreed to add additional rooms and offices requested by Inclusion and the care provider.
The property management company expects this project "will take less time" as it is a refurbishment as opposed to a full redevelopment.
Executive Chairman Geoffrey Dart said: "There is very high demand for supported living accommodation throughout the UK. Dukemount is actively pursuing projects in the Midlands and south west England as demand is strong, confirmed to us by the local authorities in these areas. We believe that Inclusion Housing is a good fit with Dukemount and look forward to working with them on other projects around the country."
Shares in Dukemount Capital were down 5.9% at 0.59 pence each Monday.