Housing provider for vulnerable people enters voluntary liquidation

A community interest company has provides rented and supported housing has gone into voluntary liquidation.

Lotus Sanctuary, based in Wolverhampton’s Chubb Building, helped vulnerable adults and families at risk of homelessness. Records show it employed 88 people in March 2022.

Social housing investor Home REIT revealed that tenants Lotus Sanctuary as well as Salford-based Gen Liv UK CIC had gone bust.

The property company which invests in the provision of sheltered housing for homeless people, has now lost 18.2% of its annual rent roll from the two tenants.

Home REIT confirmed that it is in conversation with prospective tenants to take on the new leases of the former companies but confirmed there is currently no impact on residents.

“Whilst discussions are ongoing, arrangements have been made for existing care and support services to continue, to ensure that there is no impact on underlying residents. No resident will lose their accommodation as a result of the above creditors’ voluntary liquidations”.