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12 Feb 2021 11:00
12 February 2021
CIVITAS SOCIAL HOUSING PLC
Hilldale Housing Association - Grading Under Review
The Board of Civitas Social Housing PLC ("CSH", "Civitas" or the "Company"), the leading care-based social housing REIT, notes that the Regulator of Social Housing ("RSH") has issued a 'grading under review' notice in respect of Hilldale Housing Association ("Hilldale"), one of the 16 approved providers working with Civitas.
Hilldale represents 0.97 per cent of Civitas' rent roll which is paid up in accordance with agreed terms in respect of all leases. It is expected that all rents will be fully paid in the future.
The RSH announced in May 2018 a general review of housing associations engaged in the provision of property services for vulnerable people.
Hilldale Housing Association is dedicated to providing high quality homes for adults with disabilities and long-term care needs. Hilldale offers vulnerable people the opportunity to live a high quality of life within their own communities.
Civitas will issue a further announcement at the time that the RSH makes an additional comment.
ENDS
For further information, please contact:
Civitas Investment Management Limited
Paul Bridge Tel: +44 (0)20 3058 4844
Andrew Dawber Tel: +44 (0)20 3058 4846
Panmure Gordon
Sapna Shah Tel: +44 (0)20 7886 2783
Tom Scrivens Tel: +44 (0) 20 7886 2648
Liberum Capital Limited
Gillian Martin / Chris Clarke Tel: +44 (0) 20 3100 2222
Buchanan
Helen Tarbet / Henry Wilson Tel: +44 (0) 20 7466 5000
Hannah Ratcliff / George Beale civitas@buchanan.uk.com
Notes:
Civitas Social Housing PLC (CSH) was created in 2016 by Civitas Investment Management Limited as the first dedicated London listed REIT, to raise long-term, sustainable, institutional capital to invest in care-based social homes across the UK. So far, CSH has completed more than 120 individual transactions to build the largest portfolio of its kind that has been independently valued on an IFRS basis at £901.1million. CSH provides homes for 4,295 working age adults with long-term care needs, in 619 bespoke properties that are supported by 118 specialist care providers, 16 approved providers over 164 individual local authority areas.
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