Noble Tree intends on developing, renting and selling affordable housing, securing as many properties as possible in a balanced portfolio of socially focused residential real estate providing shareholders with an attractive level of dividends and the potential for capital growth
Noble Tree intends to secure properties from the open market, empty homes register, Local Authorities (“LA”) stock, distressed mortgages, bankrupt stock and each development will individually be held and wholly owned within special purpose vehicles (“SPV”) for leasing to LAs and to Registered Providers (“RP”) in key geographical locations.
Noble Tree may also consider acquiring mortgaged properties where the owners are in financial difficulties and enter into a tenancy agreement with the occupiers to maintain them in their home.
Noble Tree intends to focus on developing, renting and selling affordable residential property, with a main focus on keeping as many properties as possible in its portfolio. Noble Tree has partnered with various counter parties/companies to source, renovate and procure management services for empty homes for use as affordable housing and delivering a Supported Housing programme (“SHP”) to provide tenancies for people with support needs in terms of learning disability, physical and/or mental impairment.
Noble Tree aims to provide a balanced portfolio whilst providing shareholders with an attractive level of income and the potential for capital growth.
Noble Tree’s objective is to become a Real Estate Investment Trust (“REIT”) providing shareholders and investors with long term growth and a good level of dividends. Once REIT status has been approved Noble Tree intends to upgrade its listing. Noble Tree plans to allocate invested funds in proportion to the required levels defined by the REIT Regime, namely a minimum of 75 per cent of funds will be invested into the Rental business and a maximum of 25 per cent of funds will be invested directly in non-rental developments. As a REIT, Noble Tree will be required to distribute 90 per cent of tax-exempt profits from its property rental business as Property Income Distribution (“PID”).
Noble Tree has an experienced management team that will aim to manage its portfolio of properties with a view to maintaining a strong balance sheet with good liquidity (Cash & Cash Equivalents on the balance sheet) and maximising profits. Subject to market conditions and the Company’s level of net income, it is the Directors’ intention that the Company will adopt a long term policy on donations to Charities related to affordable homes subject to shareholder approval.