Home REIT has admitted that its biggest tenant is one of those in arrears.
The “landlord for the homeless” said in a statement that a “significant number” of its tenants, including Lotus Sanctuary CIC, had fallen behind on rents.
The company had sought to emphasise the reliable nature of its income and its “robust tenants”, after claims made by short-seller Viceroy Research.
Home REIT said in November that it had no rent arrears for the period up to the end of August.
However it has now come to light that one tenant, Noble Tree Foundation, is withholding its rent in a dispute about the refurbishment of its properties.
Lotus Sanctuary CIC has not paid any rent for the quarter to November, and appears to be struggling to secure sign-off for government-backed housing benefits.
Lotus is Home REIT’s biggest tenant, accounting for 12.2% of its rent roll.
