- Residential Secure Income said it had extended the unexpired terms of the leases of 279 of its long-leasehold retirement properties to 150 years.

The company, which invests in affordable shared ownership, retirement and local authority housing, said the properties were part of the portfolio of 2,186 retirement homes, which the firm had bought in 2017 and 2018. The previous average unexpired lease term was 80 years.

The new arrangement would increase the average unexpired lease term of the 2,100 leasehold units in the portfolio to 131 years, which the company expects will enhance the value of the portfolio and contribute favourably to its total return.

At 9:25am: [LON:RESI] Residential Secure Income Plc share price was +0.3p at 91.2p

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