About UsAbout Elite UK REIT

Elite UK REIT is a Singapore real estate investment trust established with the investment strategy of principally investing, directly or indirectly, in real estate and real estate-related assets in the United Kingdom (“UK”). Elite UK REIT is the only UK REIT listed in Pound sterling on the Singapore Exchange.

Elite UK REIT’s portfolio (“Portfolio”) comprises predominantly freehold properties strategically located mainly in town centres, and near amenities and transportation nodes. The Portfolio offers a stable government-backed income stream with over 99% of the gross rental income derived from the UK Government, backed by AA-rated sovereign credit strength. The leases are on triple net basis1 and Elite UK REIT is one of the largest providers of critical social infrastructure to the Department for Work & Pensions (“DWP”) and other UK Government departments. The DWP is the UK’s largest public service department that is responsible for welfare, pensions and child maintenance policy, serving over 20 million claimants and customers. The Portfolio is part of the crucial social infrastructure through which the DWP provides services to local communities.

Elite UK REIT’s key objectives are to provide Unitholders with regular and stable distributions and to achieve long-term growth in distribution and net asset value per unit, while maintaining an optimal capital structure through disciplined execution of its key strategies.

  1. Known as a full repairing and insuring lease, the responsibility for the repair of the external and internal parts as well as the structure of the property is placed with the tenant for occupied assets.

Key Milestones

May 2024 Elite Commercial REIT changes name to “Elite UK REIT”
Apr 2024 Elite Commercial REIT announces expansion of investment strategy to encompass a wider scope of real estate and real estate-related assets within the UK, such as the Living Sector, which includes purpose-built student accommodation (“PBSA”) and Build-to-Rent residential asset classes
Mar 2024 Elite Commercial REIT secures up to £135 million of debt facilities for refinancing
Jan 2024 Elite Commercial REIT’s first Preferential Offering oversubscribed with subscription rate at more than 120%. Successfully raised £28 million to solidify capital structure
Aug-Nov 2023 Divestments of five assets at a premium to the assets’ valuation1
Apr 2023 Rent escalation of about 13.1% for 136 assets following inflation-linked rental uplift effective 1 April 2023
Mar 2023 Elite Commercial REIT wins Gold Award in the Asia's Best Sustainability Report (First Time) category at the 8th Asia Sustainability Reporting Awards
Nov 2022 Secured inaugural green loan facility of £15 million Green Revolving Credit Facility as part of wider sustainability strategy
Oct 2022 Extension of £94 million Loan Facility and entry into £90 million SONIA Swap arrangement, extending the REIT’s debt maturity profile
Oct 2022 Established S$300 million Multicurrency Debt Issuance Programme
Apr 2022 Major lease re-gearing exercise yielded positive outcome with lease break options occurring in March 2023 removed from 109 assets occupied by the DWP and MOD, resulting in lease stability and income visibility

Secured Sustainability Collaboration with the UK Government's Ministry of Defence ("MOD") to improve sustainability and energy efficiency of MOD-occupied asset in the REIT's portfolio
Feb 2022 Secured first Sustainability Collaboration with the UK Government's Department for Work and Pensions ("DWP") to boost sustainability and energy efficiency of DWP-occupied assets in the REIT's portfolio
Aug 2021 Elite Commercial REIT's UK entities - Elite UK Commercial Holdings Limited ("ECHL") and its subsidiaries - qualified as a UK REIT group upon successful technical listing of ECHL on The International Stock Exchange
Mar 2021 Completion of the Elite Commercial REIT's maiden portfolio acquisition of 58 properties located across the United Kingdom
Feb 2020 Elite Commercial REIT successfully completed its initial public offering (IPO) with overwhelming response - Singapore public offer was 8.3x subscribed
  1. Based on the valuation as at 31 July 2023 for the five divestments.
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