Jump to content
House Price Crash Forum
LittlePig

Private Rental Sector REIT (Build to Rent)

Recommended Posts

http://www.investegate.co.uk/prs-reit-plc--the-/rns/intention-to-float---fundraising-of-up-to--250m/201705040700121217E/

"The UK Government's Homes and Communities Agency ("HCA") will support the Issue with a direct investment in the Company of 9.99 per cent. of the Gross Issue Proceeds, up to £25 million...

The Company's investment objective is to provide investors with an attractive level of income together with the prospect of income and capital growth through investment in a portfolio of newly-constructed, residential PRS sites of multiple units. These units will comprise mainly family homes, let on Assured Shorthold Tenancies (as defined in the Housing Act 1988) to qualifying tenants. The properties will be located across sites in cities and towns in England with a focus on the main conurbations, and largest employment centres, outside London. The locations follow the main rail and road infrastructure, including the proposed HS2 and HS3 rail networks. The assets will come with the benefit of a 10 year National House Building Council or equivalent warranties, with a consequently low level of capital expenditure allied to a predictable and low cost maintenance regime.

 

Identified and secure pipeline of assets

·   Pipeline of approximately 2,535 new homes with a Total Cost of c.£375 million is already identified and contracted, including a seed portfolio of c.£72 million of assets either completed or under construction.

·    Strong relationships with Local Authorities and House Building Partners (Countryside Properties plc, Keepmoat Regeneration Limited and Keepmoat Homes Limited) provide land access and development expertise."

Share this post


Link to post
Share on other sites
9 hours ago, LittlePig said:

http://www.investegate.co.uk/prs-reit-plc--the-/rns/intention-to-float---fundraising-of-up-to--250m/201705040700121217E/

"The UK Government's Homes and Communities Agency ("HCA") will support the Issue with a direct investment in the Company of 9.99 per cent. of the Gross Issue Proceeds, up to £25 million...

The Company's investment objective is to provide investors with an attractive level of income together with the prospect of income and capital growth through investment in a portfolio of newly-constructed, residential PRS sites of multiple units. These units will comprise mainly family homes, let on Assured Shorthold Tenancies (as defined in the Housing Act 1988) to qualifying tenants. The properties will be located across sites in cities and towns in England with a focus on the main conurbations, and largest employment centres, outside London. The locations follow the main rail and road infrastructure, including the proposed HS2 and HS3 rail networks. The assets will come with the benefit of a 10 year National House Building Council or equivalent warranties, with a consequently low level of capital expenditure allied to a predictable and low cost maintenance regime.

 

Identified and secure pipeline of assets

·   Pipeline of approximately 2,535 new homes with a Total Cost of c.£375 million is already identified and contracted, including a seed portfolio of c.£72 million of assets either completed or under construction.

·    Strong relationships with Local Authorities and House Building Partners (Countryside Properties plc, Keepmoat Regeneration Limited and Keepmoat Homes Limited) provide land access and development expertise."

@Little Pig -  Many Thanks for this heads-up.  Looks interesting with a promised dividend yield of 6%pa

More information here: The PRS REIT plc

Prospectus Here: The PRS REIT plc Prospectus ( Application Form on Page 191 )

The prospectus mentions an Intermediaries' Offer so hopefully can apply through ISA or SIPP but I've not seen anything on the brokers' sites as yet ( eg HL, SelfTrade, YouInvest ) 

Edit: Have spoken with the company and SelfTrade should be one of the participating brokers.   

Edited by M21er
Update Brokers

Share this post


Link to post
Share on other sites

If they create additional housing stock then these are generally a good thing. Obviously available housing supply, is not the main or only element in pricing, but it's another straw on the camel's back.

Share this post


Link to post
Share on other sites
10 minutes ago, Tulip_mania said:

If they create additional housing stock then these are generally a good thing. Obviously available housing supply, is not the main or only element in pricing, but it's another straw on the camel's back.

Going to be interesting for the BTL brigade, another nail in the coffin, or stake in the heart ;)

Share this post


Link to post
Share on other sites
2 hours ago, LittlePig said:

I am surprised that they are not starting by buying 1000 semis in Kent.

Don't give them any ideas :P!

Share this post


Link to post
Share on other sites
26 minutes ago, M21er said:

A small profit from stagging across mine, my wife's and my son's ISA accounts!

Did you sell them already?

Because it's not a profit until you close the trade.

Share this post


Link to post
Share on other sites

Tories U-turn on plan to build more socially rented council housing

Plan to build genuinely affordable homes ditched by housing minister. The Conservatives have U-turned on a flagship pledge to build “a new generation” of social housing announced in their manifesto just weeks ago. Theresa May personally promised her policy would deliver “a constant supply of new homes for social rent”. The embarrassing admission represents the second about-turn on a Conservative manifesto pledge. In mid-May the Conservatives announced they would build “a new generation of homes for social rent”. The Tory manifesto spelt out a plan for “new council housing deals”, which would help councils "build more social housing”. And, in an intervention that spoke to the policy’s importance, Theresa May personally pledged it would create “a constant supply of new homes for social rent”. Independent

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

  • Recently Browsing   0 members

    No registered users viewing this page.

  • The Prime Minister stated that there were three Brexit options available to the UK:   76 members have voted

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal

    Please sign in or register to vote in this poll. View topic


×

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.