- Elite UK REIT (SGX:MXNU)’s 9M25 numbers are in line with estimates. Its conversion of Lindsay House into a student housing facility is on track, while another asset conversion is in the pre-planning stages. Planning applications for its data centre (DC) development is in the final stages after which we expect this to be divested.
9M25 DPU grew by 9.4% y-o-y.
- - Read this at SGinvestors.io -
- Financing costs have moderated slightly by 10bps year-to-date to 4.8% and should remain stable around current levels, with some potential savings expected next year from refinancing. Management plans to potentially stagger debt maturity to mitigate risks.
- - Read this at SGinvestors.io -
Redevelopment works on Lindsay House in Dundee
- Redevelopment works on Lindsay House in Dundee into a 168-bed purpose-built student accommodation (PBSA) have commenced and is expected to be ready for the 2027 academic year. Management guided that redevelopment costs have been tracking slightly lower than budgeted at GBP15-17m, with an anticipated yield on cost of ~7% and ROI of ~20%.
- Another asset, Cambria House in Cardiff, is currently in the pre-planning stages, and may be redeveloped into a larger 348-bed PBSA.
Development of Peel Park DC
- Read more at SGinvestors.io.
