Home REIT annual loss widens as managed wind down progresses

Home REIT PLC on Wednesday said it expects its remaining properties to be substantially sold soon, as it posted a lower portfolio value.

The London-based investor in the UK social housing sector said pretax loss widened to £30.6 million in the financial year ended August 31, from £25.2 million a year prior.

The portfolio was valued at £154.9 million as at August 31, down 42% from £265.4 million a year prior.

The company said it expects remaining properties to be substantially sold via an auction market during the first half of 2026.

Back in November, Home REIT confirmed an exclusivity agreement with London-based real estate investment firm Patron Capital Partners to sell the majority of its assets.

In August, Home REIT had agreed with AEW UK Investment Management LLP to revise terms of the investment management agreement, reflecting the reduced size of the company and the managed wind-down.

Chair Michael O’Donnell, said: ‘The board remains fully committed to securing the best possible outcome for shareholders. Over recent months, together with AEW, we have made significant progress in progressing the company’s managed wind-down strategy, not least entering exclusivity with Patron Capital for the sale of the majority of the portfolio. While it remains the objective of the Board to ensure the company can return available capital to shareholders as soon as possible upon completion of the realisation strategy, we feel it is important to remind shareholders that this may be constrained by a range of factors, including the prospect of potential litigation.’

Home REIT shares have been suspended since January 2023.

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