Civitas Social Housing reveals £250 million IPO plan

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Civitas Social Housing trust on Tuesday gave London’s flagging flotation market a boost, revealing plans for a £250 million listing.

The firm, which would be the first social housing-focused property investment trust to list in London, said it is already eyeing a string of opportunities in England and Wales’s £300 billion sector.

Properties would be rented to housing associations and local authorities.

The planned float comes after a number of firms — including Pure Gym and Misys — pulled their flotations last month because of the volatile market.

Civitas is led by Paul Bridge, a former boss of Homes for Haringey which manages buildings in Wood Green, Tottenham and Muswell Hill.

Bridge said buying properties from social housing groups would enable them “to gain access to capital tied up in existing housing stock”. 

Chairman Michael Wrobel added: “This also provides investors an opportunity to access stable, long term income and capital growth.”

Cenkos Securities and Zeus Capital are joint book-runners.

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November 2, 2016 |
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