24 Jan 2024 07:00
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION
FOR IMMEDIATE RELEASE
Â
24 January 2024
Home REIT plc
Â
("Home REIT" or the "Company")
Â
Property Sales
The Company announces that at a public auction held on the 23 January 2024, the Company has exchanged on the sale of a further 103 properties (representing 4.8% of the portfolio by number) (the "Sale Properties"). Gross proceeds for the sales were £6.6m representing 1.6% of the Company's portfolio by value (based on JLL's August 2023 draft valuation), with completion expected in approximately one month's time.
Â
The gross proceeds from the Sale Properties are £0.6m (8.4%) below the draft August 2023 values, however positive and negative variations between the sales price and draft valuation are to be anticipated.
Â
Sale proceeds will be used to reduce borrowings and provide working capital.
Â
The person responsible for arranging the release of this announcement on behalf of the Company is FTI Consulting.
Â
FOR FURTHER INFORMATION, PLEASE CONTACT:
Â
FTI Consulting (Communications Adviser) Dido Laurimore Eve Kirmatzis Oliver Harrison | HomeREIT@fticonsulting.com +44 (0)20 3727 1000Â |
Â
The Company's LEI is: 213800A53AOVH3FCGG44.
Â
For more information, please visit the Company's website:Â www.homereituk.com
Â
Inside Information
The information contained within this announcement is deemed by Home REIT to constitute inside information as stipulated under the Market Abuse Regulation (EU) no. 596/2014 (as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018). On the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.
Â