Tonbridge– In October 2017, a UK SPV fully owned by Residentia purchased its first in a series of portfolios of freehold, affordable houses in Tonbridge.
The entire portfolio was in need of refurbishment and modernisation, allowing for the eventual resale of the properties as individual units.
The company has continued to build on its success in Tonbridge, and in 2019 is making further portfolio acquisitions of similar housing stock in the town, to be managed under the existing business plan.
Northern Yield Portfolio– In November 2017 Residentia established a fully owned UK SPV to directly invest significant capital into affordable housing in the north east of England.
An under performing residential portfolio was purchased in late 2017, with a second, similar portfolio being acquired early in 2018.
After the creation and subsequent implementation of a robust local management plan, the fully let portfolio now generates a 10.1% return.
Additionally, with the two portfolios having being acquired below the market and RICS valuations, additional capital value has been secured across the portfolio.
Stepney Lane Newcastle, 317 room student accommodation portfolio – On the 18th June 2019, Residentia purchased the entire share capital in Tyne Region North Stepney Ltd for £15.5M.