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<p>We have acquired 529 properties within the current safeguarded area across the
more than 300-mile-long HS2 route. Of those properties 262 are currently let and provided
£3,066,662 of rental income in financial year 2018/19. The annualised rent roll for
the total residential property portfolio - including the property in safeguarding
- is currently £10,953,843.</p><p> </p><p>All the properties acquired are likely to
require a level of compliance, repair or refurbishment works prior to letting. As
a competent landlord, we have a responsibility to ensure the properties we let are
safe and are compliant. The residential properties we acquire have all been occupied
by the previous owner and as such all have a degree of compliant work required, such
as fire safety, to ensure they can be let without risk of harm to our tenants.</p><p>
</p><p>The cost of the works relating to the total residential property portfolio
was £18,541,003 in financial year 2018/19.</p>
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