Elite UK REIT Sells Sidlaw House for 41.7% Premium Above Valuation

MT Newswires

2024/10/03

Elite UK REIT (SGX:MXNU) has confirmed the sale of Sidlaw House, Dundee, for 1.3 million pounds, representing a 41.7% premium over its valuation of 900,000 pounds as of June 30, according to a Wednesday filing on the Singapore Exchange, citing an independent assessment by CBRE.

The property, currently vacant, will contribute net proceeds towards repaying outstanding borrowings. The divestment is not expected to materially affect the REIT's net asset value or distribution per unit for the financial year ending Dec. 31, 2024.

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