Another headache for landlord Home REIT as two of its largest tenants refuse to pay their rent
Embattled homeless housing landlord Home REIT says two of its tenants have not been paying rent since November.
Big Help Group, a Liverpool charity that is its largest tenant, and London-based charity the Noble Tree Foundation are ‘disputing their rental obligations’ and have not made any lease payments for the three months to November 30.
Home REIT said it was ‘reviewing all options’ to secure payment.
Rent dispute: Liverpool charity Big Help Group and London-based charity the Noble Tree Foundation have not made any payments to Home REIT for the three months to November 30
But Big Help boss Peter Mitchell, a former Labour councillor, claimed it had agreed a two-year rent-free period with Home REIT from the start of September last year.
The development is yet another headache for Home REIT, which rents its properties to charities, councils and community groups who then use them to house the homeless and other vulnerable people.
It has been under pressure since November when it came under attack from Viceroy Research, which questioned its business model and the group’s ability to collect rent.
Its shares were suspended on January 3 after plunging more than 50 per cent in the wake of the Viceroy attack.
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