Investment firm acquires supported housing properties in £4.6m deal

Triple Point Social Housing REIT has completed the acquisition of a Yorkshire supported housing property as part of a deal worth £4.6m.

The portfolio includes 28 units in total, which are are located across Yorkshire (10 units), the West Midlands (12 units), the East Midlands (3 units) and the South (3 units).

All of the properties acquired comprise specialist homes refurbished for individuals with mental health and other support and care needs.

The Group has entered into new FRI leases in respect of each of the properties for a minimum period of 20 years with the ability to extend to 25 years.

These leases are with Chrysalis Supported Association, Hilldale Housing Association and Inclusion Housing.

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

The properties will generate net initial yields in line with the company’s investment criteria and returns profile.