Elite Uk Reit Divests Vacant Wales Property 18 Above Valuation

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Perpetual (Asia) Limited, the trustee of Elite UK REIT, recently sold Crown Buildings, Caerphilly at Claude Road, Caerphilly, for GBP710,000 ($1.2 million) at a premium of 18%. The property, which was vacant, was previously valued at GBP600,000 at the end of 2024 by CBRE, an independent valuation firm. This property is located in Wales and was valued at GBP530,000 at the end of 2023. The proceeds from the sale will be used to repay any outstanding borrowings of Elite UK REIT. According to the website of Elite UK REIT, Crown Buildings, Caerphilly has a total gross floor area of 20,712 square feet.Following its successful GBP28 million preferential offering in January 2024, Elite UK REIT was able to reduce its leverage ratio from 50.0% at the end of 2023 to 43.4% at the end of 2024. In addition, the net gearing ratio also decreased from 47.5% at the end of 2023 to 42.5% at the end of 2024. The company does not have any debt maturing in 2025 or 2026 and refinancing will only be necessary in 2027.