Civitas seals £7.8m deal

Civitas has purchased nine regulated social housing properties comprising 42 tenancies for £7.8m.

The properties are leased to Encircle Housing Ltd, Auckland Home Solutions CIC and Inclusion Housing. The three are counterparties to existing leases within the company’s portfolio.

The homes, which have been adapted for use as accommodation for tenants with learning disabilities and other care needs, will be immediately income-generating and were sourced off-market by Civitas Housing Advisors Ltd, the company’s investment adviser.

The properties are subject to 25-year leases and rents are adjusted annually in line with the consumer price index over the full period.