Home REIT PLC (GB:HOME) has released an update.
Home REIT PLC has successfully sold 201 properties at auction for £36.9m, exceeding their August 2023 valuations by 4.8%, and repaid £21.8m of debt, significantly decreasing total borrowings to £72.0m as of September 2024. They’ve decided to cease monthly updates following the adoption of a Managed Wind-Down strategy, and will instead provide updates driven by material events. The company’s financial position shows a healthy cash balance and a commitment to settling all outstanding debts by the end of 2024.
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