Home REIT (HOME), the former homeless accommodation provider blighted by a valuation scandal three years ago, is in talks with real estate investor Patron Capital about selling the bulk of its portfolio for £123m.
The indicative price, which has not been finalised, comes as Home agreed to hold exclusive negotiations with London-based Patron.
It covers 700 of the real estate investment trust’s 853 properties, with the remainder valued at £18.25m.
Quoteddata property analyst Richard Williams says that values Home at just over £141m, equal to 17.9p per share. That compares to the 38p at which the shares were suspended in January 2023. They launched five years ago at 100p.
“While discussions are ongoing with Patron Capital, there can be no certainty that a transaction will be agreed upon or as to the final terms of any such agreement, and this update should not be construed as announcing a transaction,” the company said.
Back in February, Home said it had received “credible” offers but there were no further developments.
