This is the second quarter in the REIT’s financial year and only down 1% from the rental growth recorded in the previous three months.
In the trading update, management of the PRS REIT stated: “As previously reported on 3 December 2024, the board is in active discussions with a number of interested parties in relation to a potential sale of the company.
“It also continues to explore all the options available to the company, focusing on maximising value for the company’s shareholders.”
A further update will be made in the first calendar quarter of 2025.
Elsewhere, PRS REIT reported an estimated retinal value of its 5,437 completed homes as £68.6m per annum. This is higher than the £60.3m figure calculated in December 2023.
The REIT’s total number of sites decreased from 72 to 71 during the second quarter with the board deciding not to exercise its option to acquire the previously contracted asset once it became completed and fully let.
Rent collection was 99% for the period.
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