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Walls & Futures REIT Plc: DEEP DIVE

Walls & Futures REIT aims to generate long-term secure income for investors

Chief executive Joe McTaggart said the company has a strong pipeline of projects for 2019 that are expected to deliver “good results”.
OVERVIEW: WAFR The Big Picture
Walls & Futures develops supported housing and extra care homes
  • Walls & Futures targeting total return of 7-9%

  • Portfolio outperforms MSCI UK Residential Property Index for second year running

  • Strong pipeline of projects for 2019


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.

Inflection points:

  • The firm’s portfolio rose by 8.75% in 2018, outperforming the MSCI UK Residential Property Index, which increased by 5.2% in the period. It marked the second year in a row that the portfolio has outperformed the index.
  • In December, the company revealed that it net asset value (NAV) stood at £3.26mln as at the end of September 2018, compared to £3.10mln a year earlier, while NAV per share remained unchanged at 92p.
  • Walls & Futures aims to deliver a total return of between 7-9%, made up of the income generated on deals and the higher margins that come from developing its own properties
  • The company said its focus for 2019 is to deliver on key partnerships agreed with local authorities last year and

Blue Sky:

Walls & Futures expects to benefit from an aging 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 it can generate what we feel to be a good long-term income.”

He said the company has a strong pipeline of projects for 2019 that are expected to deliver “good results”.

McTaggart added that the firm offers investors a way of accessing long-term secure income in what has become and increasing volatile stock market.

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Walls & Futures REIT Plc Timeline

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