Assetz Exchange has achieved a record year so far in 2022 with over £4m in property purchased and leased.
The property investment platform said that the period between May and July is looking like it will follow a similar pattern, with over £8m of property with offers made and a lease agreement in place, including a £2.5m property due to launch in July.
It also has several partner discussions underpinning the pipeline in the second half of the year, Assetz Exchange added.
The platform said that it is starting to grow its relationship with Halo Housing Association, which is particularly active in the North of England and the Midlands.
This includes entering legals for an existing scheme that consists of a cluster of self-contained units in Southport and being in the early stages of assessing a scheme in North Nottinghamshire that is being converted from a care home into supported living for six residents.
Assetz Exchange said a £2.5m property due to launch in July was originally built as student accommodation but it will try and go through a change of use application that if successful will allow it to complete this purchase and lease it to social housing enterprise Independent Housing Limited (IHL) to use for a homelessness scheme.
The platform is also in legal discussions about a similar scheme with IHL in Hyde near Manchester, but this is for only nine units.
In addition, Assetz Exchange is in discussions regarding its first purchases in the non-elderly residential care sector and is negotiating for two care homes let to a private, well established, healthcare provider of mental health services.
The property investor said that while these need to be converted prior to purchase, it believes these investments will complement its offering in the supported living space.
Assetz Exchange plans to launch these onto the platform in the latter part of the year, if the negotiations prove successful.
“Our focus remains on providing long term, stable investment properties – at a typical yield of between five to six per cent at launch – and the opportunity to provide accommodation with social impact,” Assetz Exchange said in a blog on its website.
“We hope that some of these opportunities will move from the early-stage pipeline to a more advanced stage in the next few months.”