Civitas purchases two properties for £1.6m; exchanges property for £3.1m
Source - SMW
Civitas Social Housing said Friday it had completed the purchase of 2 regulated social housing properties comprising 10 tenancies for a total consideration of £1,589,468.
The company also exchanged a regulated social housing property comprising 14 tenancies for a total of £3.1m, with completion expected early in January 2019.
The properties were leased to Falcon Housing Association, Chrysalis and Inclusion, all of which were regulated by the Regulator of Social Housing and were counterparties to existing leases within the company's portfolio.
The properties would be immediately income-generating with an initial net yield in line with the company's expectations and were sourced off-market by Civitas Housing Advisors Limited, the company's investment adviser.
At 8:31am: (LON:CSH) W Resources PLC formerly Caspian Holdings PLC share price was +1.8p at 98.8p