{"id":12253,"date":"2026-05-05T10:00:59","date_gmt":"2026-05-05T09:00:59","guid":{"rendered":"https:\/\/www.londonhouseexchange.com\/blog\/?p=12253"},"modified":"2026-05-05T11:21:31","modified_gmt":"2026-05-05T10:21:31","slug":"q1-2026-performance-announcement","status":"publish","type":"post","link":"https:\/\/www.londonhouseexchange.com\/blog\/q1-2026-performance-announcement\/","title":{"rendered":"Q1 2026 Portfolio Update"},"content":{"rendered":"\n

Below you will find our Q1 2026 performance announcement. This includes an LHX update, updated financial information on all properties, individual unit details, property disposals, dividends and other important information for investors. <\/p>\n\n\n\n

To ensure that all clients have the opportunity to consider this announcement, the Exchange will be suspended as usual, for 3 working days, re-opening at 10am on Friday 8 May 2026.<\/p>\n\n\n\n

Important upcoming dates <\/strong><\/p>\n\n\n\n

5 May<\/strong><\/td>Unit schedule updated to 31 April 2026<\/td><\/tr>
8 May<\/strong><\/td>LHX Exchange reopens for trading (10am)<\/td><\/tr>
5 June<\/strong><\/td>May activity update published<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
<\/div>\n\n\n\n

Today\u2019s announcements<\/strong><\/p>\n\n\n\n

1. LHX update<\/strong><\/p>\n\n\n\n

2. Portfolio performance<\/strong><\/p>\n\n\n\n

3. Dividend distributions<\/strong><\/p>\n\n\n\n

4. LHX Mortgage Bonds<\/strong><\/p>\n\n\n\n

5. Shareholder votes<\/strong><\/p>\n\n\n\n

6. Capital distributions<\/strong><\/p>\n\n\n\n

7. Property development loans<\/strong><\/p>\n\n\n\n

8. Properties with fire safety issues <\/strong><\/p>\n\n\n\n

9. Upcoming quarterly announcements <\/strong><\/p>\n\n\n\n

1. LHX update<\/strong><\/h2>\n\n\n\n

The property team sold 17 residential units in Q1 2026, amounting to \u00a32.7m in property value. As a consequence \u00a3750,000 of mortgage finance was repaid across our portfolio during the last quarter, <\/strong>reducing interest costs across the portfolio, with the total portfolio mortgage loan-to-value (LTV) currently at 32%. Moreover, there are a further 39 residential units currently under offer.<\/p>\n\n\n\n

We completed 8 members\u2019 voluntary liquidations in Q1, with a further 3 completed in April and a number of other properties are currently going through the voluntary liquidation process with a number of distributions scheduled in the coming weeks. <\/p>\n\n\n\n

We repaid a further LHX Mortgage Bond and another Bridging Finance Investment Offering (St Pauls Road, Bradford) in March, with investors achieving 9.50% returns over the 12 month term and successfully completed the fundraises of a further four Bridging investments.<\/p>\n\n\n\n

We have further offerings launching in the coming weeks and months – all eligible investors will be notified of the scheduled launch time and date via email. <\/p>\n\n\n\n

As ever we value your feedback, so please do not hesitate to get in touch with us via support@londonhouseexchange.com if you have any comments or questions. <\/p>\n\n\n\n

2. Portfolio performance <\/strong><\/h2>\n\n\n\n

Today (5 May 2026) we have published updated financial information for every property, including net income, mortgage details and the net cash position. You can find this information at the top of each property\u2019s respective investment page, in the \u2018Financials\u2019 section. <\/strong><\/p>\n\n\n\n

The \u2018Unit Details\u2019 section<\/strong>, a tab within the \u2018Financials\u2019 section on each property\u2019s investment page that provides detailed information on a unit-by-unit basis, has been updated today to reflect the latest status of every unit and contracted rent for let units. This tab is updated monthly and allows you to track sales progress for all properties voted for sale as part of their 5-year anniversary sales process. <\/strong><\/p>\n\n\n\n

All other information is updated to 31 March 2026.<\/em><\/p>\n\n\n\n

Residential portfolio unit status<\/em><\/strong><\/p>\n\n\n\n

The table below gives a summary of unit status by category across the residential portfolio at 31 March 2026. The changes exhibited over time continue to highlight the focus on selling residential units, as we seek to repay mortgages and fulfil shareholder mandates to sell properties following their 5-year anniversary votes.  <\/p>\n\n\n\n

Residential unit status<\/strong><\/td>Mar 2025<\/strong><\/td>Jun 2025<\/strong><\/td>Sep 2025<\/strong><\/td>Dec 2025<\/strong><\/td>Mar 2026<\/strong><\/td><\/tr>
Let<\/td>138<\/td>129<\/td>118<\/td>105<\/td>103<\/td><\/tr>
To let (vacant)<\/td>4<\/td>4<\/td>5<\/td>5<\/td>3<\/td><\/tr>
For sale (vacant)<\/td>45<\/td>29<\/td>30<\/td>28<\/td>22<\/td><\/tr>
Under offer (vacant)<\/td>73<\/td>81<\/td>49<\/td>46<\/td>39<\/td><\/tr>
Total current units<\/strong><\/td>260<\/strong><\/td>243<\/strong><\/td>202<\/strong><\/td>184<\/strong><\/td>167<\/strong><\/td><\/tr>
Sold<\/td>268<\/td>285<\/td>326<\/td>344<\/td>361<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
<\/div>\n\n\n\n

Residential Unit sales<\/em><\/strong><\/p>\n\n\n\n

There were 17 residential units sold in Q1 2026, amounting to \u00a32.7m in property value. <\/p>\n\n\n\n

Clients can see the performance of agreed and completed sales in the Individual Unit Details of each property and on our Selling Record.<\/a><\/p>\n\n\n\n

Mortgage debt<\/em><\/strong><\/p>\n\n\n\n

The average interest rate across our mortgaged portfolio stands at 6.7%, which remains unaffordable for the majority of residential properties. The cost of servicing mortgage debt erodes rental income and is the primary reason for dividend suspension across the portfolio. <\/p>\n\n\n\n

We are continuing to pay down mortgage debt wherever possible, predominantly through unit sales, and \u00a30.75 million of mortgage finance was repaid across our portfolio during the last quarter. The total portfolio mortgage loan-to-value (LTV) is currently 32%.<\/p>\n\n\n\n

3. Dividend distributions<\/strong><\/h2>\n\n\n\n

Information on dividends for all properties can be found on each of the property\u2019s investment pages on the website. <\/p>\n\n\n\n

4. Bridging Finance Investments <\/strong><\/h2>\n\n\n\n

This quarter we successfully completed the fundraise of another four Bridging Investments, with over \u00a31m of bridging investments now active and we completed another repayment. <\/strong><\/p>\n\n\n\n

The St Pauls Road, Bradford Bridging Investment\u2019s 12 month term completed in March with investors achieving a total return of 9.50% on the amount repaid, equivalent to the interest rate of 9.50% p.a. over the 365 day term.<\/p>\n\n\n\n

The Bridging Finance Investments and their rates are presented below:<\/p>\n\n\n\n

Property<\/strong><\/td>Current p.a. return <\/strong><\/td><\/tr>
Clarendon Road East, Morecambe<\/a><\/td>9.00%<\/td><\/tr>
Priory Street, Carmarthen<\/a><\/td>9.00%<\/td><\/tr>
Lucan Place, Chelsea, London<\/a><\/td>8.50%<\/td><\/tr>
College Street, Long Eaton<\/a><\/td>9.00%<\/td><\/tr>
Idmiston Road, Newham<\/a><\/td>9.00%<\/td><\/tr>
Goodway Road, Solihull<\/a><\/td>9.00%<\/td><\/tr>
St Pauls Road, Bradford<\/a><\/td>Fully repaid, with interest (9.50%)<\/td><\/tr>
Melksham, Wiltshire<\/a><\/td>Fully repaid, with interest (10%)<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

View Bridging Finance Investments page<\/a><\/p>\n\n\n\n

<\/div>\n\n\n\n

5. LHX Mortgage Bonds<\/strong><\/h2>\n\n\n\n

Following recent unit sales in Mortgage Bond properties during Q1 2026, there has been the full repayment of capital and interest in one bond:<\/em><\/strong><\/p>\n\n\n\n