Business
Surrender of leases
Surrender of leases.
About this update from Home Reit Plc
[{"type":"text","content":"\n\nNOT 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\nFOR IMMEDIATE RELEASE\n \n14 August 2024\nHome REIT plc\n \n(\"Home REIT\" or the \"Company\")\n \nSurrender of leases\n \nThe Company announces that it has reached an agreement with Mansit Housing CIC, a non-performing tenant, for the surrender of its leases on 68 properties (the \"Properties\") which it rents from Home REIT, equating to c.4% of the Company's portfolio by number of properties as at 31 July 2024.\n \nThe majority of the properties are occupied by private rented sector (\"PRS\") tenants on Assured Shorthold Tenancies (\"ASTs\"). These ASTs will now transfer to Home REIT, enabling the Company to directly collect the underlying income from these properties, increasing rent collection and facilitating asset management opportunities.\n \nThe Company will be appointing Property Managers to the surrendered Properties, who will be responsible for the day-to-day management and rent collection.\n \nThe party responsible for arranging the release of this announcement on behalf of the Company is Apex Group.\n \n FOR FURTHER INFORMATION, PLEASE CONTACT:\n \n\n\n\n\nFTI Consulting (Communications Adviser)\nDido Laurimore\nEve Kirmatzis\nOliver Harrison\n\n\[email protected]\n+44 (0)20 3727 1000 \n\n\n\n\n \nThe Company's LEI is: 213800A53AOVH3FCGG44.\n \nFor more information, please visit the Company's website: www.homereituk.com\n \n \n\n","length":3944,"tagName":"div"}]