Elite UK REIT divests four Welsh properties for €7m

Elite UK REIT Management, acting as the manager for Elite UK REIT, has announced that its wholly-owned subsidiaries, Elite Gemstones Properties Limited and Elite Amphora Limited, have finalised the sale of four properties in Wales.

Elite UK REIT property

The real estate portfolio was sold to an independent third-party buyer for a total consideration of £6.0 mln (€7.0 mln).

The transaction includes the following properties, all of which are currently occupied by the UK government's Department for Work and Pensions: High Street, Swansea; Windsor Road, Neath; Oldway House, Swansea; and Station Road, Port Talbot

The sale price of £6.0 mln represents a premium over the portfolio's current book value, which is valued at £5.3 mln (€6.2 mln) in the recent accounts.

The net proceeds generated from this transaction will be strategically redeployed into higher-quality or rapid-growth real estate opportunities.

This divestment is expected to have a negligible impact on Elite UK REIT’s net asset value (NAV) for the financial year ending 31 December 2026.

Singapore-based real estate investment trust Elite UK REIT primarily invests in commercial assets and real estate-related assets in the UK.