Social Housing REIT boosts income by 19%

Social Housing REIT (SOHO) has increased its net rental income by 19% in the first half of the year, according to an unaudited trading update for the six months to 30 June.

The REIT, which invests in specialised supported housing (SSH), reported net rental income of £19.8m in the half-year, up from £16.7m in the same period the previous year.

SOHO has a portfolio of around 500 properties consisting of nearly 3,500 homes. It leases properties to housing associations or councils who are for responsible for property management, maintenance, tenancy, and care/support services. The group increased its dividend by 3% in the half-year.

Chris Phillips, chair of SOHO, said: “The SSH sector is underpinned by strong fundamentals: a critical societal need, chronic undersupply and long-term inflation-linked income supported by public funding.

“We were pleased to increase our dividend by 3% – the first rise since 2022. Our increased dividend is fully covered by earnings and has the potential for further growth.”

>>See also: Six in 10 supported housing providers warn schemes at risk of closure, says NHF

Since 1st January 2025, the company’s investment manage is Atrato Group is a UK-based alternative investment fund management and advisory group.

Specialised supported housing (SSH) is defined as housing that is designed or adapted for people who require specialised services so that they can live independently rather than in a care home, and where the level of ongoing support provided is high and approximately the same as that provided by a care home. SSH is exempt from rent regulation, although the rent on a property must be below market levels if the home is to meet the statutory definition of social housing.