What Walls & Futures REIT does:
The firm aims to generate long-term secure income by addressing the UK’s social housing needs.
As opposed to buying ready-made portfolios, Walls & Futures collaborates with local authorities, charities and housing associations to understand their needs before going out to the market to build new homes or acquire properties for redevelopment.
Walls & Futures does not provide the care, just the homes, which are then taken on by the local authority, housing association or charity to manage.
Through its own development, Walls & Futures can generate a profit, which protects and increases net asset value.
How it's doing
Net asset value (NAV) per share surged by 15% in 2019.
The real estate investment trust (REIT) said that following completion of its Didcot property in December and the annual valuation of the company's residential property portfolio, the NAV per share was 106p, up from 92p a year earlier.
"We are delighted with the 15% increase in our net asset value per share and demonstrates the benefit of our strategy to originate our own deals and develop our own projects over acquiring ready-made assets from third parties," said Joe McTaggart, the chief executive officer of Walls & Futures.
The portfolio outperformed its benchmark, the MSCI UK Residential Index 23.0% to 4.4%.
"The value growth created further validates our investment strategy of originating our investments and real estate development as opposed to acquiring ready-made portfolios from third parties," added McTaggart.
- Pipeline of new investments with several transactions currently under consideration.
- A subscription at 70p per share in August raised £100,000
- Huge shortage in the UK for ethical housing
Walls & Futures expects to benefit from an ageing population and an estimated shortage of 29,000 supported housing places.
Chief executive Joe McTaggart said: “We feel there’s a strong market there and from that can generate what we feel to be a good long-term income.”