Triple Point Social Housing announces £7.7m portfolio expansion

Triple Point Social Housing

Triple Point Social Housing announces £7.7m portfolio expansion – Triple Point Social Housing (SOHO) has announced that it has completed the acquisition of four supported housing properties and also acquired the land and entered into a forward funding arrangement to develop another supported housing project, comprising 46 units in total, for an aggregate commitment of approximately £7.7m.

The 46 properties are located across the east midlands (12 units) and the north west (34 units).

20-30 year lease structures

With respect to the four acquires properties, SOHO has entered into new leases for periods of between 20 and 25 years. These leases are with specialist housing associations including Hilldale Housing Association and Inclusion Housing.

In relation to the forward funded asset, comprising 46 units, SOHO will enter into new leases with Inclusion Housing following what it describes as the ‘practical completion of each scheme’, for a minimum period of 20 years with the ability to extend to 30 years. SOHO adds that all the housing associations mentioned are regulated by the Regulator of Social Housing.

CPI linked rents

The rents received under the leases are or will be subject to annual, upward-only rent reviews, increasing in line with the consumer price index.

All of the properties comprise specialist, high quality homes for individuals with mental health and other support and care needs.

SOHO: Triple Point Social Housing announces £7.7m portfolio expansion

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