- Civitas Social Housing said Friday it had completed the purchase of three regulated social housing properties for £3.65m.

The properties, comprising 26 tenancies, were leased to Auckland Home Solutions Encircle Housing both of which were regulated by the Regulator of Social Housing and were counterparty to existing leases within the company's portfolio, Civitas said.

The properties would be immediately income-generating with an initial net yield in line with the company's expectations and were sourced off-market by Civitas Housing Advisors Limited, the company's investment manager.

The properties were subject to 25 year leases and rents were adjusted annually in line with inflation over the full period, Civitas added.

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