Elite Uk Reit Divests Vacant Wales Property 18 Above Valuation

Elite UK REIT’s trustee, Perpetual (Asia) Limited, has sold Crown Buildings, Caerphilly, situated at Claude Road, Caerphilly, for an impressive sum of GBP710,000 ($1.2 million), at an 18% premium. The sale was announced in a recent filing with the bourse, which revealed that the property was evaluated at GBP600,000 at the end of 2024 through a valuation carried out by CBRE.

This prime property, which is located in Wales, was previously valued at GBP530,000 at the end of 2023. The proceeds from the sale will be utilized to repay the outstanding borrowings of Elite UK REIT.

Crown Buildings, Caerphilly boasts of a gross floor area of 20,712 sq ft according to the property’s listing on Elite UK REIT’s website.

After a successful preferential offering worth GBP28 million in January 2024, Elite UK REIT’s leverage ratio decreased from 50.0% at the end of 2023 to 43.4% at the end of 2024. Similarly, its net gearing ratio also decreased from 47.5% at the end of 2023 to 42.5% at the end of 2024.

In addition, Elite UK REIT has no debt maturing in 2025 and 2026, and the company only has to consider refinancing in 2027. The sale of Crown Buildings, Caerphilly is a strategic move that will help Elite UK REIT strengthen and stabilize its financial position in the long term.

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