17 March 2021 | 09:23am
StockMarketWire.com - Housing investor Residential Secure Income said it had acquired 68 shared ownership homes from Metropolitan Thames Valley Housing for £5.1 million.
Residential Secure Income (ReSI) said the deal followed a partnership between the two companies in in London and Cambridgeshire that delivered 138 shared ownership homes during 2020.
The newly acquired properties, located in a Swindon development, comprised 53 apartments and 15 houses, in low-rise brick buildings.
The average share already owned by residents in their homes was 44%. The properties are immediately earnings enhancing for ReSI and generate an expected inflation-linked leveraged yield in line with ReSI s 8% total return and around 5% dividend targets, the company said.