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
In June the firm sold a freehold property in Wimbledon Park for £656,000 and with plans to re-deploy the proceeds into supported housing.
According to the investment trust, coronavirus has highlighted the importance of this type of housing, as properties are on long-term contracts there has been less disruption than seen in other areas of the commercial property market.
The trust’s recently completed Oxford development is almost a blueprint for how supported development projects should look in future, according to chief executive Joe McTaggart.
"It’s state-of-the-art... and reflects the company’s build your own ethos. That way you get a better quality product, pricing and yields," he told Proactive.