Elite UK REIT, Singapore’s only U.K.‑focused REIT, has entered into a conditional sale and purchase agreement with Elite Phoenix Ltd., a wholly owned subsidiary of Elite UK Commercial Fund III, to acquire three freehold or virtual freehold government infrastructure and workspaces for £9.2 million ($12.5 million).
The properties are Priory Court in Dover and Custom House in Felixstowe, both in England, and Tŷ Merlin, Carmarthen, in Wales.
“The mission-critical national infrastructure to be acquired dovetails with our proposition of offering investors countercyclical income backed by nondiscretionary assets amidst macro uncertainty. Upon completion of the proposed acquisition, our enlarged portfolio of properties in the U.K. will deliver a higher portfolio yield and positive reversionary potential from stable government-backed income stream with triple-net leases and rents collected in advance. The tenant and geographical mix will also be further diversified, wi
