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EliteUKREIT GBP
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Elite REIT - the only GBP-denominated REIT today.
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Joelton
Supreme |
26-Aug-2026 09:43
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Elite UK REIT obtains GBP50 mil sustainability-linked Shariah-compliant Murabaha facility Elite UK REIT announced that its wholly-owned subsidiary, Elite Phoenix Limited, has entered into a GBP50 million ($87 million) Murabaha facilities agreement for a period of two years with Maybank Singapore and RHB Singapore. The manager states that as at Aug 17, GBP22 million of the facilities have been drawn to partially finance the acquisition of five new government-leased properties. &ldquo Being a Murabaha facility, the facilities are to be applied towards Shariah-compliant purposes. Like the REIT&rsquo s existing loan facilities, the latest facilities are also sustainability-linked, with scope for margin adjustments should energy performance certificate ratings improve,&rdquo the manager states. Apart from the partial financing of the above acquisition, the manager intends to use the remainder of the facilities to refinance existing loan facilities, financing general corporate and working capital requirements. &ldquo This financing is also another step in broadening the REIT&rsquo s appeal to a wider pool of capital, including investors and financial institutions seeking Shariah-compliant and sustainability-linked investment opportunities,&rdquo says Joshua Liaw, CEO of the manager. &ldquo We are pleased to partner Elite UK REIT on this landmark financing, which brings together sustainability-linked and Shariah-compliant financing within a GBP-denominated structure and enables them to broaden and deepen their investor pool,&rdquo states Alvin Lee, Country CEO, CEO of Maybank Singapore. &ldquo This transaction showcases our expertise in Islamic finance, sustainable finance and innovative capital solutions, while demonstrating our commitment to supporting Elite UK REIT' s strategic growth ambitions,&rdquo adds Goh Ken-Yi, CEO of RHB Singapore. Units in Elite UK REIT closed unchanged at 31 pence on Aug 25. |
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Alignment
Elite |
19-Aug-2026 12:43
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https://www.ft.com/content/2ff9ed49-89fa-4b10-b754-ecf1bc396aad Also increasing number of UK local students are living from home due to the poor economy. |
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Alignment
Elite |
16-Aug-2026 09:28
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https://www.theguardian.com/education/2026/aug/13/uk-universities-face-financial-crisis-amid-collapse-in-international-students This is why you should not bet on UK student accommodation. |
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Joelton
Supreme |
12-Aug-2026 12:20
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DBS Group Research and PhillipCapital maintain &lsquo buy&rsquo on Elite UK REIT following 1HFY2026 results Both DBS Group Research and PhillipCapital have kept their respective &ldquo buy&rdquo calls on Elite UK REIT following the recent 1HFY2026 results. In her Aug 11 report, Tabitha Foo of DBS Group Research points out that Elite UK REIT&rsquo s 1HFY2026 distribution per unit (DPU) of 1.55 pence is largely in line, representing 51% and 52% of her forecast and consensus full year estimates respectively. &ldquo The REIT is emerging on a much stronger footing after a multi-year journey of portfolio optimising, lease restructuring and balance sheet repair,&rdquo Foo states. Foo believes that near-term earnings could be bolstered by the completion of the recent acquisition of five assets and continued interest savings, while further lease renewals and completion of Lindsay House repositioning will provide longer-term income visibility and valuation uplifts. &ldquo Progress for Lindsay House in Dundee into a 170-bed PBSA is on track, with strip-out works completed, main contractor appointed and operations targeted to commence for the next academic year, which falls in Sep 2027,&rdquo Foo adds. Meanwhile, she noted that Elite UK REIT&rsquo s management remains optimistic about demand and confident of achieving a healthy ramp-up. &ldquo After Lindsay House, the repositioning of Cambria House into a PBSA is another development to look forward to over the next one to two years,&rdquo Foo says. Apart from that, she will be keeping an eye on the potential divestment of the data centre development site at Peel Park, Blackpool, which has taken some time and may not be completed by end of this year as previously guided. &ldquo Hence, we kept our FY2026 and FY2027 DPU estimates broadly stable at 3.04 pence and 3.16 pence respectively. translating to attractive forward yields of 9.7% and 10.0% respectively. We maintain a &ldquo buy&rdquo recommendation and target price of £ 0.40,&rdquo Foo concludes. PhillipCapital analyst Hashim Osman, in his Aug 11 report, notes that Elite UK REIT&rsquo s net gearing has improved by 6.1 percentage points y-o-y to 34.6% in 1HFY2026 and 99% of debt is now on fixed rate. &ldquo There is limited refinancing risk as refinancing discussions are underway for £ 77.9 million of debt maturing in FY2027, and lender consent is obtained for a 2-year extension to FY2029 for £ 132.3 million of debt,&rdquo says Hashim. With capital management strengthened, the PhillipCapital analyst believes that any DWP non-renewals present an opportunity for Elite UK REIT to fund conversions of vacated assets into higher-yielding repositioning such as PBSA or coliving. &ldquo 30% of DWP leases will expire in April 2028 and Elite UK REIT&rsquo s management has guided a base of 10% - 15% vacancy. An update on the renewal is targeted for March or April fiscal year-end,&rdquo the analyst adds. As such, he is keeping a &ldquo buy&rdquo recommendation on Elite UK REIT with unchanged target price of £ 0.41. &ldquo There are no changes to our forecast. Elite UK REIT is trading at 9.6% FY2026 dividend yield and a price/NAV of 0.8 times,&rdquo Units of Elite UK REIT closed unchanged at £ 0.315 on Aug 11. |
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chengwh1
Elite |
07-Aug-2026 15:26
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" Elite UK REIT (SGX:MXNU) has reported a distribution per unit (DPU) of 1.55 pence for 1HFY2026 ended June 30, up 0.6% y-o-y." The above so-called 3-year high payout of 1.55 GBP cts insludes the Advanced dpu of 1.44 GBP cts to be paid out on Aug 11, ie next week. How abt the Remainder 0.11 GBP cts ? No mention anywhere,.........
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Joelton
Supreme |
07-Aug-2026 10:35
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Elite UK REIT reports 0.6% y-o-y rise in DPU for 1HFY2026 Elite UK REIT (SGX:MXNU) has reported a distribution per unit (DPU) of 1.55 pence for 1HFY2026 ended June 30, up 0.6% y-o-y. Revenue for the period increased 0.8% y-o-y to £ 18.9 million, driven by contributions from acquisition last June of Priory Court, Dover and Custom House, Felixstowe which are in England, and Merlin House, Carmarthen in Wales. Meanwhile, adjusted net property income (NPI) grew 5% y-o-y to £ 18 million, which reflects the underlying operating performance after normalising for one-off dilapidation settlements recognised back in 1HFY2025. Distributable income increased 3.6% y-o-y to £ 10.1 million, supported by interest savings from capital management and lower interest rate, as well as reduced vacancy costs. The manager states that following the recent lease regear and portfolio reconstitution initiatives, Elite UK REIT&rsquo s weighted average lease expiry (WALE) rose to 7.1 years as at June 30 on a pro-forma basis while portfolio occupancy remains at 99.9%. Net gearing as at June 30 stood at 34.6% and the manager expects the figure to trend towards the middle of between the 35% and 40% range as acquisition debt is drawn in 3Q2026. As at June 30, its borrowing costs remained stable at 4.7%, while its proportion of borrowings on fixed rates increased to 99%, reducing exposure to interest rate risk. Interest coverage ratio is stable at 2.6 times. Net asset value per unit increased 10% year-to-date to £ 0.44, mainly due to £ 24.3 million of new lease agreements signed with the UK Government for DWP-occupied properties in February. On the repositioning front, the manager shares that the £ 19.4 million conversion of Lindsay House, Dundee (Lindsay House) into a 170-bed purpose-built student accommodation (PBSA) is progressing on schedule to start operations in the academic year commencing September. Strip-out works at Lindsay House has completed and a main contractor has been appointed. &ldquo The conversion of Lindsay House is estimated to bring further uplift to distribution yield and DPU accretion, while maintaining net gearing within the manager&rsquo s target range,&rdquo Elite UK REIT states. &ldquo As we look to the second half of the year, we remain focused on strengthening our portfolio, advancing lease negotiations and our repositioning projects while preserving the defensive, counter-cyclical characteristics that continue to distinguish Elite UK REIT,&rdquo says Joshua Liaw, CEO of the manager. Units in Elite UK REIT closed 0.5 pence lower, or 1.61% down at 30.5 pence on Aug 6. |
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Alignment
Elite |
12-Jul-2026 23:14
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Finally the share price has begun to fall following the announcment of the private placement and transaction. Somewhat of a delayed effect. Shareholders who reacted quickly were given time to sell out before the impact hit. | ||||
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Joelton
Supreme |
04-Jul-2026 14:15
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Elite UK Reit sells four Wales properties for US$8 million [SINGAPORE] The manager of Elite UK real estate investment trust (Reit) on Friday (Jul 3) announced the divestment of four properties located in Wales for a total sale consideration of £ 6 million (US$8 million). The properties were sold to an unrelated third-party purchaser through the Reit&rsquo s wholly owned subsidiaries, Elite Gemstones Properties and Elite Amphora. The divested portfolio consists of assets located at High Street, Swansea Windsor Road, Neath Oldway House, Swansea and Station Road, Port Talbot. The four properties are currently occupied by the UK&rsquo s Department for Work and Pensions. Financially, the £ 6 million sale consideration represents a premium to the properties&rsquo current accounts valuation, which stands at £ 5.3 million. The Reit&rsquo s manager said that the net proceeds generated from this divestment will be recycled into high-growth opportunities. Furthermore, the manager noted that this divestment is not expected to have a material impact on Elite UK Reit&rsquo s net asset value for the financial year ending 31 Dec, 2026. This comes after the trust on Jun 16 said that it is set to buy five freehold and virtual freehold government-leased properties across the UK for £ 31.9 million. It also embarked on a £ 19 million conversion of its Lindsay House property in Dundee, Scotland, into a purpose-built student accommodation facility. Together, these moves were set to be distribution-accretive, said Elite UK Reit then. Units of Elite UK Reit fell 1.6 per cent or £ 0.005 to end at £ 0.31 on Thursday. |
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chengwh1
Elite |
21-Jun-2026 16:39
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Abt Stoneweg - another school-of-thought does not think so, bro,... They discussed this at large in the recent AGM that was concluded in April this year. For Elite, they need to do more investor activities to send a msg to the investment world that the mgmt is doing their best to increase shareholder values. This will close the gap betw current unit price and book value.
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Alignment
Elite |
18-Jun-2026 20:42
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They are trading way below their NAV of GBP0.40. What management should be doing in these circumstances is sell assets and buy back shares. Unfortunately they are doing the opposite. The management of Stoneweg over the past few quarters have been a good example of what one should be doing in these situations. |
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chengwh1
Elite |
18-Jun-2026 14:16
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If not doing acquisition, there is no fwd-movement in this REIT. The moment an acquisition is done, it dilutes everybody,.... More units out there at lower prices subsequently,.... | ||||
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Kuaile
Member |
17-Jun-2026 16:29
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The private placement is priced at a discount of 13.12 per cent. This is one of the highest discounts of private placement as I know it. And it is highly dilutive to existing shareholders. |
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Joelton
Supreme |
17-Jun-2026 16:14
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Elite UK Reit to buy five government-leased UK properties for £ 31.9 million [SINGAPORE] The manager of Elite UK Real Estate Investment Trust : MENU 0% (Reit) on Tuesday (Jun 16) said that it is set to buy five freehold and virtual freehold government-leased properties across the UK for £ 31.9 million (S$55 million). The Reit is also embarking on a £ 19 million conversion of its Lindsay House property in Dundee, Scotland, into a purpose-built student accommodation facility. The Reit manager said that it expects the transaction to be 1.3 per cent accretive to its distribution per unit (DPU), raising its pro forma DPU as at Dec 31, 2025, from £ 0.03011 to £ 0.03051. Joshua Liaw, CEO of the manager, noted that the pairing of government-leased properties and living sector assets will enhance the resilience of distributions amid continued macroeconomic volatility. He said that the acquisition reinforces the portfolio with essential UK infrastructure assets underpinned by long-term, government-backed revenue, and that the student accommodation conversion aligns with the Reit&rsquo s commitment to deliver sustainable yields. The conversion of Lindsay House marks the Reit&rsquo s entry into the UK living sector. The five-storey former office building will be transformed into a 170-bed student accommodation asset with communal amenities such as a gym and study areas. The property is located in a high-density student area near Abertay University and the University of Dundee. The works are expected to be completed before the 2027 academic year. The acquisitions, meanwhile, will bolster the Reit&rsquo s lease maturity profile. They will extend its portfolio weighted average lease expiry from 2.4 years at the end of 2025 to 7.6 years on a pro forma basis. With the addition of the new assets, the portfolio valuation will rise about 7 per cent to £ 492.1 million. Financial boost anticipated The targeted commercial assets are Queensway House in East Kilbride, Griffin House in Wigan, Penhaligon House in St Austell, Challand House in Pontefract and Bridgend Jobcentre in Wales. Combined, the properties will contribute about £ 2.6 million in annual gross rental income, said the Reit&rsquo s manager. All five of the new properties are leased entirely to the UK government under full repairing and insuring triple-net leases, providing a countercyclical revenue stream backed by sovereign credit. This transaction diversifies the Reit&rsquo s occupier base by introducing a new key government tenant &ndash the UK tax authority, His Majesty&rsquo s Revenue & Customs (HMRC). HMRC occupies Queensway House, which will account for roughly 3.1 per cent of the Reit&rsquo s gross rental income. The remaining four properties are occupied by the UK Department for Work and Pensions (DWP). Consequently, the income contribution from non-DWP government occupiers will rise by 2.6 percentage points to 9.5 per cent on a pro forma basis. Private placement and borrowings To finance the acquisitions and conversion, the Reit&rsquo s manager said it plans to use an optimised funding mix. This includes up to £ 30.7 million in external bank borrowings, a private placement intended to raise £ 7.4 million, and £ 5.9 million in internal cash resources. Of the capital raised, £ 1.3 million will be earmarked for partly financing the five-property portfolio acquisition. The remaining £ 6.1 million will be allocated to the Lindsay House conversion. The private placement is being offered to institutional, accredited and other eligible investors within an issue price range of £ 0.296 to £ 0.30 per unit. The final price will be determined through a book-building process. The price band represents a discount of about 11.95 to 13.12 per cent to the volume-weighted average price of £ 0.3407 a unit on Jun 15, the market day preceding the placement agreement. On an adjusted basis, factoring out an advanced distribution, the discount sits between 8.06 and 9.29 per cent. The trust will issue 25 million new units under the minimum placement price. The issuance represents a 4.1 per cent expansion of the existing unit base, bringing the total number units to about 636.5 million. The manager expects this to enhance trading liquidity and broaden the Reit&rsquo s unitholder base. To preserve equity fairness for existing investors before the new units dilute the pool, the manager intends to declare an advanced distribution of about £ 0.0144 per unit. The Reit also plans to raise about £ 8.9 million by issuing consideration units to Elite UK Commercial Fund III, a vehicle managed by a subsidiary of the Reit&rsquo s sponsor, Elite Partners. Units of the Reit ended Monday flat at £ 0.34. |
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Alignment
Elite |
16-Jun-2026 21:17
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Alamak, yet another reason to be wary about this company. The assertion that the acquisition is 1.3% accretive is, in my view, not a fair representation of the merits of the deal due to the assumptions they are making to make the assertion. In particular they are assuming in the calculation that GBP17.4m of the GBP34m cost of the deal is debt funded i.e. 51% debt funded. Which is high, obviously, and not a sustainable debt level if applied across their business as a whole. |
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prophetjul
Master |
16-Jun-2026 15:04
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https://investor.eliteukreit.com/newsroom/20260616_083813_MXNU_DZE771V1ZK4Q0NFA.3.pdf &bull Proposed Acquisition of five freehold or virtual freehold government-leased properties (&ldquo New Properties&rdquo ) for a purchase consideration of £ 31.9 million &bull New Properties feature a long Weighted Average Lease to Expiry (&ldquo WALE&rdquo ) of 13.3 years as at 31 December 2025 &bull Introduces His Majesty&rsquo s Revenue and Customs (&ldquo HMRC&rdquo ) to Elite UK REIT&rsquo s tenant mix, with additional revenue from key occupier, the Department for Work and Pensions (&ldquo DWP&rdquo ) &bull Following the Proposed Acquisition, FY2025 Distribution per Unit (&ldquo DPU&rdquo ) on a pro forma basis is 3.051 pence and 1.3% accretive1 &bull Embarks on £ 19.0 million conversion of Lindsay House into a 170-bed purpose-built student accommodation facility &bull Proposed Acquisition and conversion of Lindsay House to be funded by diverse sources including existing borrowings, Private Placement, and Consideration in Units |
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Alignment
Elite |
15-Jun-2026 14:01
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Seems reasonable.
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chengwh1
Elite |
13-Jun-2026 20:21
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To make a long story short, I' d think the investing public and the insto' s here are not very confident of these foreign-denominated S-REITs. Hence, the moment trouble appears, these REITs will get sold down very fast. And rightly so,... looking at what happened to MUST, Prime and KORE. And the main reason for the non-confidence is because of : Asset Quality ! I would think this is the first and foremost reason !
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Alignment
Elite |
12-Jun-2026 00:06
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I think you are correct in pointing out the foreign currency denominated ones do appear to have done materially worse than average of the SGX listed REITs. It is an interesting observation. The next question to ask is whether there is a common reason. I suggest the following are potentially possible causes (this is not exhaustive and I am not saying I believe all of these to be true): 1) The Singapore property market did better than overseas property markets 2) Trying to manage overseas properties from Singapore is more difficult than when you are managing properties in the same country 3) Singaporean interest rates stayed relatively low compared to overseas interest rates, so the cost of capital is lower 4) Managers that invested overseas were more likely to take Singaporean investors for granted and assumed because the properties were far away they did not know what they were investing in 5) There is less demand in Singapore for non S$ denominated investments, so demand for these shares are lower relative to supply I am sure others can think of more potential reasons. Everyone can decide for themselves if any of these reasons have merit.
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chengwh1
Elite |
11-Jun-2026 11:49
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By the way, last 5 years also involved Covid events - all ctrs experienced falls, especially the foreign-currency-denominated REITs,... We know what happened to the likes of Manulife, KORE and Prime,... at least Elite preformed better than they did. | ||||
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chengwh1
Elite |
11-Jun-2026 11:46
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Given the 2, I will take Elite for the currency diversification,... and debt is not to be renewed after 2 years from today,... So, I ll just go with Elite becos I am holding all the other ' good' REITs and shares and can' t move anymore bullets into them.
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