Case StudyFundamentum Social Housing REIT PLC

August 2021

Fundamentum Social Housing REIT PLC

Background

Fundamentum Social Housing REIT PLC (the Company) invests in a diversified portfolio of social housing properties across the UK, with a focus on supported housing. In conjunction with local authorities, housing associations and housing charities in the UK, it provides housing to tenants within specific interest groups with identified needs (e.g. learning disabilities and autism).

The investment adviser is part of the Fundamentum Group, which has transacted on more than 100 properties focusing on ethical and socially responsible investments. The Group is a member of the UK Sustainable Investment and Finance Association (UKSIF), a signatory to the United Nations Principles for Responsible Investment (UNPRI) and an early adopter of The Sustainability Reporting Standard for Social Housing (SRS).

Transaction

The Company listed on TISE in November 2019 with the intention of raising up to £350 million for investment into the social housing sector. To date, the Company has invested £21.1M, completing the acquisition of 17 properties, providing a home for up to 166 vulnerable adults. The Company currently works with 8 housing associations, 9 Care Providers across 16 Local Authorities.

Within the Fundamentum Portfolio, the Company acquired Farm House, a newly built detached property used as Specialist Supported Housing (SSH) in the form of residential dwellings. The site comprises of 14 high quality, self-contained apartments and is located in a district of Barnsley. Closely situated to all local amenities and within walking distance of local transport and large parks for recreational activities, the apartments are purpose built and include all facilities required for residents to live independently. Registered Charity, Uthink People Developing People, manage the facility and provide SSH to some of the most vulnerable people in society. The property has been designed for sustainable living and is fitted with green technologies in the form of solar panels and an energy efficient heating system, which both contribute to an efficient Environmental Performance Certificate (low Environmental Impact Rating). Bike storage is also provided to encourage environmentally friendly travel.

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Testimonial

“We were delighted to list on The International Stock Exchange (TISE). It provides a more flexible and cost-effective regulated listing alternative to the London Stock Exchange. We note over 40% of UK REITs are now listed on TISE. We look forward to continue working with TISE as we grow our listing via our placement programme.

“It is refreshing to also note they are committed to supporting both social and ethical investments. As a company investing in the UK social housing sector, the TISE model is aligned with our objective of helping, those requiring specialist care across the UK, to tackle the growing shortage of supported housing.”

Jim Boyd, Chairman of Fundamentum Social Housing REIT PLC

Summary

7 Nov 2019

Admitted to official list

Social housing

Sector

£350m

Maximum raise size

17

Acquisitions since listing

England & Wales

Company incorporation

Isle of Man

Listing sponsor

Advisers

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