Civitas Social Housing acquires regulated portfolio for £6.1m

Shares in Civitas Social Housing advanced after it completed the purchase of a portfolio of regulated social housing for a total consideration of £6.1m.

The portfolio comprised the freehold interest in five supported living properties, with 51 tenancies, in the North East of England.

It was immediately income generating with an initial net yield in line with the company's expectations.

All properties within the portfolio were subject to a 25-year lease with a specialist Housing Association - Kindstream Housing CIC - focused around supported living, with rents established by the relevant local authority and adjusted annually by inflation (CPI) over the full period.

At 11:07 BST, shares in Civitas Social Housing were up 0.67% to 112.5p each.