Elite UK REIT - Phillip Securities 2026-01-07: Regearing Leases, Rebalancing Risk

• Partial lease regearing outcome for ~ 95.7% of leases expiring in 2028 is expected in 1Q26. Lindsay House’s first phase of repositioning to PBSA is underway, with stabilisation expected before September 2027 in line with the beginning of the academic year. Potential acquisition plans are under review, with sponsor assets being the most visible option.
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Key highlights

Managing gearing through lease regear.

• Elite UK REIT has ~ 95.7% of leases expiring in 2028 with negotiation outcome expected in 1Q26. Management expects a staggered lease expiry profile post-regearing. Recent DWP lease renewals achieved 5% rental reversions (Theatre Buildings), and we expect reversion to be at least UK CPI (3.5% as of Nov 2025).
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• We believe Elite UK REIT is well-positioned to secure favourable lease renewals with DWP.

Progress on Lindsay House repositioning.

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Above is an excerpt from a report by Phillip Securities Research.
Clients of Phillip Capital may be the first to access the full PDF report @ https://www.stocksbnb.com/.

Read also Phillip's most recent report:
2026-02-12 Elite UK REIT - Near-term Lease Expiry Risk Resolved.

Price targets by 2 other brokers at Elite UK REIT Target Prices.

Listing of research reports at Elite UK REIT Analyst Reports.

Relevant links:
Elite UK REIT Share Price History,
Elite UK REIT Announcements,
Elite UK REIT Dividend Payout Dates & Corporate Actions,
Elite UK REIT News