viewWalls & Futures REIT Plc

Walls & Futures REIT aims to generate long-term secure income for investors


  • Walls & Futures targeting total return of 7-9%
  • Portfolio outperforms MSCI UK Residential Property Index for the second year running
  • Strong pipeline of projects for 2019

Quick facts: Walls & Futures REIT Plc

Price: 55.5 GBX

Market: NEX
Market Cap: -

What Walls & Futures REIT does:

Walls & Futures REIT Plc (LON:WAFR) is an ethical housing REIT focused on developing supported housing and extra care homes.

The firm aims to generate long-term secure income by addressing the UK’s social housing needs.

As opposed to buying ready-made portfolios, Walls & Futures collaborates with local authorities, charities and housing associations to understand their needs before going out to the market to build new homes or acquire properties for redevelopment.

Walls & Futures does not provide the care, just the homes, which are then taken on by the local authority, housing association or charity to manage.

Through its own development, Walls & Futures can generate a profit, which protects and increases net asset value.


How is it doing

Revenue climbed by a third last year as the social housing investor outperformed the benchmark MSCI UK Residential Index for the second year running.

Walls & Futures’ portfolio, which includes care homes and supported housing leased to local authorities, delivered a total return of 8.75% in the 2018 calendar year.

That was ahead of the benchmark index, which returned 5.2%.

 “This is the second consecutive year we have outperformed the index and believe it demonstrates the potential of our development strategy,” the company said.

Revenue rose by 32% to £135,900 in the 12 months ended 31 March (2018: £102,900), although Walls & Futures slipped to a loss of £18,300 (2018: profit of £45,400).

As for the value of the company’s investment property, that increased by 4.79%.


Inflexion points

  • Pipeline of new investments with several transactions currently under consideration.
  • A subscription at 70p per share in August raised £100,000
  • Huge shortage in the UK for ethical housing


Blue Sky:

Walls & Futures expects to benefit from an ageing population and an estimated shortage of 29,000 supported housing places.

Chief executive Joe McTaggart said: “We feel there’s a strong market there and from that can generate what we feel to be a good long-term income.”

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