Triple Point progresses £20m portfolio sale

Triple Point Social Housing REIT is in talks to sell a £20m portfolio of its assets. The group said this morning that it had agreed heads of terms in relation to a portfolio sale with an aggregate value in excess of £20m. The portfolio contains both new-build and adapted properties as well as self-contained and shared homes. EPC ratings of the properties range from B to D. The group did not give any further details but said it expected to complete on the sale prior to the publication of its interim results for the sixth months to 30 June 2024, which will be published in September. Triple Point also updated on its performance for the three months to the end of March. It said rent collection had increased to 93.3%, up from 90.2% at the end of the year and 25 out of the company’s 27 lessees continued to demonstrate no material rental arrears. It added that, at 30 April, 61.6% of the group’s leases had put through their 2024 annual rent increase at a weighted average uplift of 6.1%.