Investment firm adds Bradford supported housing property to portfolio in £5.5m deal

Triple Point Social Housing REIT plc has completed the acquisition of a portfolio of six supported housing properties, comprising 40 units in total, in a £5.5m.

The properties are located in Bradford (14 units), Skegness (14 units), North Shields (10 units) and two units in Cheshire (Ellesmere Port and Chester).

Each of the properties comprise specialist homes adapted for individuals with mental health needs and learning difficulties.

Triple Point Social Housing REIT plc said the properties are immediately income generating with a net intial yield in line with the it’s investment criteria and returns profile.

The properties acquired as part of the Portfolio all benefit from FRI leases which can be extended at the sole option of the company such that they have a remaining lease term of 30 years.

The leases are with My Space Housing Solutions, a Registered Provider regulated by the Homes and Communities Agency.

The rents received under the leases are subject to annual, upward only rent reviews, increasing in line with Consumer Prices Index.

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