Home REIT has completed the sale of 76 properties at a public auction realising a total of £14.6 million in gross proceeds. This sale at the auction, which took place yesterday, was reported to have yielded 12.4% less than the properties’ draft values from August 2023, as noted by the trust in a stock exchange notice released today, 10 May.

The proceeds from the auction represent 4.5% of Home REIT’s total portfolio by value, according to the draft valuation conducted by Jones Lang LaSalle (JLL) in August last year. With these latest transactions, Home REIT has now sold a cumulative total of 585 properties, with agreements in place for a further 262 properties. Since the initiation of these disposals in August 2023, the total gross proceeds have amounted to £125.8 million.