Home REIT (HOME), the former homeless accommodation provider that is the subject of a fraud investigation by the police, has published its 2025 results.

It says talks announced in November with Patron Capital over a possible £123m sale of 700 properties continue.

During the year to 31 August, AEW, the fund manager in charge of the wind-down, sold 522 properties for £97m. The remaining properties have been valued at £17.6m.

That has reduced the portfolio’s value to £154.9m from £265.4m with net asset value per share down 16% to 20.38p following the previous year’s 11.6% decline to 24.25p.

It hopes to publish interims this quarter and relist its shares that have been suspended since January 2024.

Chair Michael O’Donnell said: “The board remains fully committed to securing the best possible outcome for shareholders.”

He added: “While it remains the objective of the board to ensure the company can return available capital to shareholders as soon as possible upon completion of the realisation strategy, we feel it is important to remind shareholders that this may be constrained by a range of factors, including the prospect of potential litigation.”

The company faces possible legal action from shareholders and has also taken steps to litigate its former fund managers at Alvarium for the losses shareholders have incurred.

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