Residential Secure Income plc has agreed to acquire 182 shared ownership freehold houses for £21 million of cash consideration (which includes transaction costs). The diversified portfolio is fully occupied and primarily located in the South East and East of England and has a current annual passing rent of £0.7 million. The homes benefit from annual uncapped RPI-linked rent increases, with an average outstanding lease term of 95 years.

The leases are fully repairing and insuring, and the portfolio's rental income is underpinned by residents' approximately 40% average ownership stake in the homes. The portfolio will be managed by ReSI Property Management Limited in line with the best practice approach set out in Gresham House's shared ownership customer and environmental charters.