StockMarketWire.com - Home investor PRS REIT said it had 49 sites either completed or under development in the third quarter, up from 43 on-year.

By 31 March, completed and contracted development totalled around £603m in gross development cost, up from £530.0m in the previous quarter.

During the quarter, the PRS REIT entered into contracts to acquire six new sites, two of which would be developed by the investment adviser and sold to the company at an independently-assessed investment value, once completed and fully let.

Three of the sites were located in the North West, two were in Suffolk and one in Bedfordshire.

When completed, the homes were expected to provide rental income of £4.2m per annum.

Construction on four of the new sites had commenced, with one site having already produced its first homes.

At 8:38am: [LON:PRSR] PRS Reit Plc share price was 0p at 99.5p



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