Scottish properties form part of housing deal

Property fund Triple Point Social Housing REIT has completed a multi-million-pound deal to acquire a number of supported housing properties and develop another two schemes.

The fund, which invests in social housing assets across the UK, said it had completed the acquisition of six supported housing properties and acquired the land and entered into forward funding arrangements to develop another two supported housing schemes, comprising 80 units in total, for £14.8 million, excluding costs.

The properties are located in southern Scotland (24 units), the north-west of England (18 units), south Wales (14 units), southwest England (eight units), Yorkshire (eight units), the West Midlands (four units) and the south east of England (four units).

The group has entered into new leases in respect of each of the properties, other than the forward funded assets, for a minimum period of 20 years with the ability to extend. The leases are with specialist housing associations.