Further doubts have been raised over the original leases that Home Reit, the troubled landlord for the homeless, struck with its tenants, with one agreeing to hand back keys to 100 properties.
One CIC, which was at one time Home Reit’s fifth largest tenant, had been subletting the buildings, which comprised 418 beds, to Mears, the provider of housing and social care.
However, One CIC has surrendered its leases on the buildings and transferred the subleases to Home Reit, which will now have Mears as the direct tenant.
One CIC was supposed to have been paying £1.22 million a year in rent to Home Reit for the 100 properties but has not been paying in full. Under the new arrangement, Mears will pay £891,000 a
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