Thu 31 Jan 2019 07:30 by ukcitymedia.co.uk about : operational news - 0 Comments - 1083 words
· 30 Year Agreement-to-Lease signed on second property in North West England
· Planning permission granted for minor extension to second property
Post Period end
· Forward-funded and pre-sold the first project (West Derby) to a segregated mandate limited partnership managed by Alpha Real Capital.
· Agreement for forward-funding and assignment of the contract of the Wavertree property in Liverpool to Time: Social Freehold, a fund managed by Time Investments
Geoffrey Dart commented:
"Since the year end the board has been actively engaged in talks with a number of housing associations, institutions and property owners as well as pushing the current 2 projects to a conclusion. Our two projects in North West England have now reached that conclusion and we have announced that both projects have forward funding in place. The contracts for both projects have each been assigned to income funds who are aiming to deliver secure, stable income with a level of inflation protection to their investors, adding to our acquisition fund and allowing us to investigate further projects we are being presented with.
Our unique business model allows us the flexibility to monetise our acquisitions in different ways as I hope our first two deals have shown. As the year progresses I look forward to updating shareholders on further successful outcomes which our flexible business model can deliver."
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