Mill Group to launch first 'buy-to-let' REIT in UK

Alice Rigby
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Mill Group Residential, one of the country's biggest property groups, is planning to launch a ‘buy-to-let' REIT, the first of its kind to be listed on a UK stock exchange.

Although REITs have grown in popularity in recent years, most have focused on commercial property. The Mill REIT is the first to invest exclusively in the mainstream residential sector. The managers aim to produce a yield of 3% after costs by investing in a portfolio of residential properties. As a REIT, no tax would be paid on its core rental income or capital gains. Its initial portfolio is almost fully let and generating income, and consists of properties located in the REIT's initial target locations of London, Southern England and the Midlands. These range in value from £180,000 ...

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