With efforts to pay down debt, the REIT's borrowing costs have eased to 4.8% and interest coverage ratio has improved to 2.7 times as at Sept 30, and net gearing ratio stood at 42.5%.
Elite UK REIT has announced a distribution per unit of 2.33 pence for its 9MFY2025, up 9.4% y-o-y. Revenue in the same nine months to Sept was up 1% y-oy to GBP28.3 million, due to rental reversions for three properties and contributions from recently acquired properties, including Priory Court.
On the other hand, net property income in the same period was down 0.5% y-o-y to GBP27.4 million, due to costs incurred for asset repositioning initiatives. Distributable income, meanwhile, is up 6.2% to nearly GBP14.9 million.
