Residential Secure Income plc
Residential Secure Income plc (ReSI)
Residential Secure Income plc (LSE: RESI) is a real estate investment trust (REIT) that is currently invested in the shared ownership sector and is pursuing a managed wind-down strategy.
ReSI seeks to deliver stable returns through its investments in affordable shared ownership across the UK, whilst pursuing a managed wind-down strategy. ReSI historically targeted a secure, long-term and inflation-linked annual dividend and an annual total return in excess of 8.0%.*
The Board of ReSI announced its proposal to shareholders that ReSI adopts a managed wind-down and portfolio realisation strategy in late 2024. Since then, ReSI has been managed with the intention of realising all the existing assets in its portfolio in an orderly manner and with a view to repaying borrowings and making timely returns of capital to shareholders.
*These are targets only and not profit forecasts.
ReSI’s focus
A UK REIT focused on its managed wind-down having historically sought to deliver secure inflation-linked income from resilient UK residential sub-sectors.
ReSI’s purpose is to implement its managed wind-down strategy having historically sought to generate secure income for shareholders by delivering affordable, high-quality, safe homes with great customer service and long-term stability of tenure for residents. ReSI plc sought to achieve this through meeting demand from housing developers (housing associations, local authorities and private developers) for long-term investment partners to accelerate the development of socially and economically beneficial affordable housing.

Portfolio overview
Shared ownership
724 Homes (including committed acquisitions)
£97mn valuation (including committed acquisitions)
- Affordable homeownership through part-buy, part-rent
- Shared owners purchase an initial stake in their property and pay a below market rent on the remaining share owned by ReSI
- Shared owners have the option to staircase (i.e. purchase a larger share in the property at the then market value), releasing bulk discounts to ReSI
Social impact
- Shared ownership opens the door to homeownership
- Provides lifetime security of tenure through long-term leases
- Creates additional sub-market rental homes
How to invest
ReSI’s shares are traded openly on the London Stock Exchange and can be purchased through a stockbroker or other financial intermediary.
The shares are available through savings plans (including Investment Dealing Accounts, ISAs, Junior ISAs and SIPPs) which facilitate both regular monthly investments and lump sum investments in the ReSI plc’s shares. There are a number of investment platforms that offer these facilities. An example can be found below:
Computershare – Share Dealing Service
A quick and easy share dealing service is available to existing shareholders through the ReSI’s Registrar, Computershare Investor Services, to either buy or sell shares. An online and telephone dealing facility provides an easy to access and simple to use service.
For further information on this service please visit www.computershare.trade or call 0370 703 0084 (calls are charged at a standard geographic rate and will vary by provider. Calls outside the United Kingdom are charged at the applicable international rate). Lines are open from 8.00am to 4.30pm Monday to Friday (excluding public holidays in England and Wales).
Before you can trade you will need to register for the service. Shareholders should have their Shareholder Reference Number (‘SRN’) available. The SRN appears on share certificates and it will be required as part of the registration process.
Key risks
- There can be no guarantee on when the managed wind-down will complete or what the quantum of sales receipts will be
- The value of the Fund and the income from it is not guaranteed and may fall as well as rise
- Capital at risk
- Past performance is not a reliable indicator of future performance
Our Registered Provider
ReSI’s wholly-owned subsidiary, ReSI Housing Limited (ReSI Housing) is authorised and regulated by the Regulator of Social Housing as a for-profit Registered Provider of social housing. Being a Registered Provider allows for the acquisition of properties designated as affordable accommodation or funded by government grant, expanding the range investment of opportunities available.
Team
Board
Rob Whiteman, CBE
Non-Executive Chairman, ReSI plc
Rob Whiteman, CBE
Non-Executive Chairman, ReSI plc
Significant knowledge of public service finances and reform and a strong background in public financial management and governance.
Presently Chief Executive of the Chartered Institute of Public Finance & Accountancy (CIPFA) and previously Chief Executive of UK Border Agency (UKBA), Improvement and Development Agency (IDeA), and London Borough of Barking and Dagenham. He previously held various positions in the London Borough of Lewisham from 1996-2005, latterly as Director of Resources and Deputy Chief Executive.
He has been a technical adviser to the board of the International Federation of Accountants (IFAC) in New York since 2013.
Rob was educated at the University of Essex where he gained a BA (Hons) in Economics and Government and is a qualified chartered public finance accountant (CPFA).
Robert Gray
Non-Executive Director & Chairman of the Audit Committee, ReSI plc
Robert Gray
Non-Executive Director & Chairman of the Audit Committee, ReSI plc
Extensive business experience, including experience in debt finance and capital markets.
Robert has held roles at J.P. Morgan, HSBC Markets Limited and HSBC Investment Bank in London working initially as Managing Director in Global Capital Markets and subsequently as Vice Chairman for Client Development. Robert was also Chairman, Debt Finance & Advisory at HSBC Bank plc. As Director and Chair of the Overseas Promotion Committee of TheCityUK Robert served as financial services sector adviser to the UK Minister for Trade & Investment.
He was Chairman of the International Primary Market Association and Vice Chairman and Chairman of the Regulatory Policy Committee of the International Capital Market Association.
Educated at Sherborne School and St. John’s College, Cambridge University where he gained a MA (Hons) in History.
Elaine Bailey
Non-Executive Director, ReSI plc
Elaine Bailey
Non-Executive Director, ReSI plc
Previously the Chief Executive of Hyde Group, the G15 Housing Association with over 50,000 properties providing housing to 100,000 residents, a position she held for five years until 2019. During this time Elaine oversaw the establishment of a five-year development pipeline of 11,000 homes and the launch of several innovative partnerships with housebuilders, contractors, local authorities and other housing associations. Elaine also previously worked in the construction and government services sectors; and worked for some years at Serco.
Elaine is involved in the government’s Building Safety Programme, including as a member of the Industry Safety Standards Steering Group.
Elaine was educated at Southampton University, where she gained a civil engineering degree and holds an MBA from Imperial College London.
ReSI Housing Limited Directors
David Orr, CBE
Non-Executive Chairman
David Orr, CBE
Non-Executive Chairman
David is an experienced leader in both executive and non-executive roles. He has over 30 years’ experience in Chief Executive roles, most recently at the National Housing Federation. He is Chair of Clarion Housing Association, is a previous President of Housing Europe and previous Chair of Reall, an international development housing charity. He is also chair of The Good Home Inquiry, co-chair of #Housing 2030, a joint project for Housing Europe and UNECE, and a member of the Archbishop of Canterbury’s Housing, Church and Community Commission. David frequently speaks on the challenge of optimistic leadership and the critical importance of governance. He has wide ranging media experience, is a well-regarded commentator and blogger and has extensive expertise navigating the world of politics and government. In June 2018 David was awarded a CBE.
Mark Rogers
Executive Director, ReSI Housing & ReSI Homes
Mark Rogers
Executive Director, ReSI Housing & ReSI Homes
Mark is the Executive Director of ReSI Housing and ReSI Homes.
He joined Gresham House in March 2020 following the acquisition of TradeRisks. Before joining ReSI Housing, Mark spent 12 years as a Chief Executive of Circle Housing Group, a 65,000-unit housing association, before merging it into the Clarion Group, the largest housing association in the UK. Prior to that, Mark held Chief Executive roles at Anglia Housing Group and Nene Housing Society.
He has 38 years’ social housing experience and has been a member of the Chartered Institute of Housing since 1986.
Gillian Rowley
Non-Executive Director
Gillian Rowley
Non-Executive Director
Gillian brings to ReSI Homes over 30 years of housing and housing finance expertise, with a focus on policy development within the framework of regulatory standards.
She served as the Non-Executive Director for The Housing Finance Corporation from 2006 – 2012, where she was heavily involved in business strategy, financial policy and governance. This overlapped with her role as the Head of Private Finance at the former social housing regulator, the Homes & Communities Agency, where for 13 years she was responsible for relationships with lenders, investors, advisers, and credit rating agencies operating in the social housing sector. She has also been an authority on all aspects of social housing finance policy, including advising government departments, focusing on areas of regulatory standards, and being responsible for social housing sector guidance on treasury management.
Sandra Skeete
Non-Executive Director
Sandra Skeete
Non-Executive Director
Sandra has a strong background in social housing with over 30 years experience as a senior leader in the sector, most recently as Chief Executive of Octavia Housing. She has held Executive leadership roles within some of the countries largest housing associations and with local authority arms length management organisations (ALMOs), leading on housing and property management.
Sandra is an experienced non-executive having held roles in housing associations, the private sector and financial services.
She is currently a board member of MHS Homes, the largest independent social landlord in the UK, and is Chair of Heart of Medway Homes, a register subsidiary of MHS Homes. She is a Board member of Earnz PLC, an AIM listed energy services company supporting the journey to net zero and former non executive board associate at Principality Building society.
Sandeep Patel
Finance Director and Head of Housing PM
Sandeep Patel
Finance Director and Head of Housing PM
Sandeep joined Gresham House in December 2022 and leads the finance function for the Housing strategy, encompassing the full suite of financial reporting and analysis.
Sandeep has over 15 years of senior finance experience spanning financial control, valuations, product control and finance business partnering, to board and executive committee level, playing an active role in the delivery of strategic objectives.
During 10 years on the sell-side, Sandeep led and worked in teams which realised significant income opportunities and cost savings. In five years on the buy-side, Sandeep led a finance team implementing a finance operating model to facilitate the scale of a listed commercial real estate investment trust from IPO to a £1.2 bn market capitalisation.
Sandeep is a Fellow Member of Association of Chartered Certified Accountants.
Insights
Key documents
Shareholding queries
Computershare Investor Services plc
The Pavilions, Bridgwater Road, Bristol BS99 6ZZ
T: 0370 889 3181
W: www.investorcentre.co.uk
Shareholder information
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Share price
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Annual Reports
Interim Reports
Sustainability and Governance
Key Information Document (KID)
Key dates
Reporting dates:
Year end 30 September
Half year 31 march
AGM:
4 March 2026
Other company documents
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