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Case StudyFundamentum Social Housing REIT PLC

30.07.20

Fundamentum Social Housing REIT PLC

Background

Fundamentum Social Housing REIT PLC (the Company) invests in a diversified portfolio of social housing properties across the UK, with a focus on supported housing. In conjunction with local authorities, housing associations and housing charities in the UK, it provides housing to tenants within specific interest groups with identified needs (e.g. learning disabilities and autism).

The investment adviser is part of the Fundamentum Group, which has transacted on more than 100 properties focusing on ethical and socially responsible investments. The Group is a member of the UK Sustainable Investment and Finance Association (UKSIF) and a signatory to the United Nations Principles for Responsible Investment (UNPRI).

Transaction

The Company listed on TISE in November 2019 with the intention of raising up to £350 million for investment into the social housing sector.

To date, the Company has completed the acquisition of 10 properties. For example, the most recent acquisition is of a property comprising 13 newly refurbished flats which will be providing much needed Supported Housing for 13 service users in Merseyside. The property is leased to a reputable Housing Association for Supported Housing, on a long-term basis of 20 years, with the option to extend for a further 5 years. The rental income increases in line with CPI.

Testimonial

“We were delighted last year to list on The International Stock Exchange (TISE). It provides a more flexible and cost-effective regulated listing alternative to the London Stock Exchange. We note over 30% of UK REITs are now listed on TISE. We look forward to continue working with TISE as we grow our listing via our placement programme.

“It is refreshing to also note they are committed to supporting both social and ethical investments. As a company investing in the UK social housing sector, the TISE model is aligned with our objective of helping, those requiring specialist care across the UK, to tackle the growing shortage of supported housing.”

Jim Boyd, Chairman of Fundamentum Social Housing REIT PLC

Summary

7 Nov 2019

Admitted to official list

Social housing

Sector

£350m

Maximum raise size

10

Acquisitions since listing

England & Wales

Company incorporation

Isle of Man

Listing sponsor

Advisers

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