Manchester-based PRS REIT plc, the closed-ended real estate investment trust that invests in new build, family homes in the private rented sector, has announced that it is undertaking “to explore all the various strategic options available to enhance value for shareholders which may include a potential sale of the company.”

PRS REIT, which invests over £1 billion, has recently been under attack from rebel shareholders.

On September 13, PRS REIT said non-executive chairman Stephen Smith would resign and two rebel shareholders — Robert Naylor and Christopher Mills — would join the board.

In a stock exchange statement on Wednesday, the fund said: “The Board believes that the Company has successfully established the largest build-to-rent single-family home portfolio in the UK, creating significant asset value returns for its Shareholders.

“As recently announced, the Company’s existing portfolio grew to 5,425 completed homes as at 30 September 2024, with an Estimated Rental Value of £67.5 million per annum.

“PRS REIT continues to demonstrate best-in-class occupancy and rent collection rates, at 98% and 100% respectively.

“The Company’s prospects remain positive against the backdrop of a structural shortage of quality family rental homes in the UK, a situation exacerbated by private landlords exiting the rental market.

“Further to the announcement on 13 September 2024, the Board has received feedback from a number of shareholders regarding the options available to the Company to maximise value for shareholders. Following such feedback, the Board wishes to explore these options in a coordinated fashion, alongside engaging with a range of potentially interested parties.”