Home­less hous­ing firm plans £250m stock mar­ket de­but

The Daily Telegraph - Business - - Business - By Hannah Boland

A COM­PANY that will in­vest in hous­ing for home­less peo­ple has an­nounced plans for a Lon­don stock mar­ket de­but, cit­ing grow­ing de­mand.

Home REIT is seek­ing to raise £250m in the float, with the cash to be in­vested in ac­com­mo­da­tion across the UK.

The com­pany is plan­ning to lease prop­er­ties to reg­is­tered char­i­ties and hous­ing as­so­ci­a­tions which have a “proven track record” and re­ceive gov­ern­ment sup­port. The aim is to of­fer them long leases terms of be­tween 20 and 30 years.

The com­pany said it had al­ready iden­ti­fied £350m worth of as­sets which fit its cri­te­ria. It is ex­pect­ing to have spent the cash raised from its de­but within nine months of list­ing.

Home REIT is man­aged by Al­var­ium In­vest­ments, the Lon­don-based firm which has around $7bn (£5.3bn) of real es­tate as­sets un­der man­age­ment.

Chair­man Lynne Fen­nah said: “We be­lieve a sig­nif­i­cant in­vest­ment op­por­tu­nity now ex­ists in the UK home­less ac­com­mo­da­tion as­set mar­ket.”

The num­ber of peo­ple sleep­ing rough in the UK has surged over the past decade, ris­ing by 165pc be­tween 2010 and 2018 across Eng­land.

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