- Operationally, Elite UK REIT continues to deliver by divesting vacant assets at healthy premiums to valuations, and advancing on redevelopment plans for the remaining assets.
- - Read this at SGinvestors.io -
Key briefing takeaway
- Key highlights of FY24 include the announcement of the successful divestment of three vacant assets for GBP6.2m at a ~15% premium over their latest valuations, and re-letting two of its assets at higher rental rates.
- Elite UK REIT is working on repositioning the remaining four assets, potentially as student housing or build-to-rent residential properties. Management is also in active discussions with its key tenant, the Department for Work & Pensions (DWP) as well as other government tenants for early lease renewals.
- - Read this at SGinvestors.io -
- Overall, it targets to secure a positive outcome for ~25% of these leases by end-2025 – which, if it materialises, would be highly positive.
Secured 120MVA of power supply for a Peel Park, Blackpool, site
- Read more at SGinvestors.io.
