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Walls & Futures REIT aims for long-term secure income

Snapshot

  • Walls & Futures targets a total return of 7-9%
  • Portfolio has outperformed MSCI UK Residential Property Index for two years
  • Strong pipeline of projects
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Quick facts: Walls & Futures REIT PLC

Price: 65.5 GBX

NEX:WAFR
Market: NEX
Market Cap: -
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What Walls & Futures REIT does:

Walls & Futures REIT Plc (LON:WAFR) is an ethical housing REIT focused on developing supported housing and extra care homes.

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.

 

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Inflexion points

  • 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

Blue Sky:

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.”

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Walls & Futures' NAV rises by 15% as it builds supported housing for the...

Joe McTaggart, CEO of Walls and Futures REIT PLC (NEX:WAFR), spoke to Proactive London about the company's increase in Net Asset Value Per Share after it completed on its Didcot development in December 2019. The valuation represents a 15 per cent increase to 106 pence per share from 92 pence...

on 11/2/20

2 min read