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- Residential Secure Income reports interims after busy period of portfolio building
Residential Secure Income reports interims after busy period of portfolio building – Residential Secure Income (RESI), the affordable shared ownership, retirement and local authority housing investor, has announced its interim results covering the six months to 31 March 2019. The portfolio benefits from 96% of rental income being subject to contractual inflation-linked rental uplifts.
Jonathan Slater, CEO of ReSI Capital Management, the manager, said the following: “During the first half we have made significant progress in the delivery of our stated strategy, having continued to add to our portfolio through a number of acquisitions and, most notably, through our entry into the Shared Ownership sector, which we have identified as the area of future growth for RESI. The quality of RESI’s portfolio is clearly reflected in the results we have announced today and particularly in the valuation uplift, which was driven primarily by contractual inflation-linked rental increases flowing through into valuation accretions and our own asset management initiatives. This puts us on track to continue to achieve the return targets set at the time of our IPO and the delivery of visible and sustainable income on behalf of our shareholders, while supporting the provision of much needed affordable accommodation across the UK.”
RESI: Residential Secure Income reports interims after busy period of portfolio building