Civitas expands portfolio

Civitas Social Housing has bought two specialist supported living properties and a registered care property for £3.9m, totalling 15 tenancies.

The supported living properties are in the north of England and have been adapted for tenants with learning disabilities, autism and other needs.

There is a care provider at each property, with the two facilities managed by Inclusion Housing and Falcon Housing Association, both counterparties to leases within the Civitas portfolio.

The care property will be managed by Bespoke Supportive Tenancies Ltd, a new provider for the real estate investment trust, which houses vulnerable adults across the country.

All three properties were sourced off-market and are subject to 25-year leases with rents adjusted annually in line with CPI over the full period.

It said it is also targeting ‘several other significant’ transactions it will be announcing shortly which have been subject to ongoing due diligence, including a number of material acquisitions with an expected value of around £100m.

In June, Civitas reported a pre-tax profit of £36.9m for the period from 18 November 2016 to 31 March 2018.