Around 99% of the properties by rental income are occupied by Jobcentre Plus, a unit of the U.K. Government’s Department for Work and Pensions, on 10-year Full Repair and Insurance leases with built-in rent uplifts, which commenced on April 1, 2018 and expire on March 31, 2028.
SINGAPORE (Jan 7): Elite Commercial Real Estate Investment Trust is likely to lodge its prospectus next week.
The portfolio – valued at around £320 million ($567 million) – comprises 97 freehold properties, all in the UK. Some 25% of the properties (by rental income) are in London, with the rest in second and third tier cities across the UK, including Glasgow and Cardiff. These properties are currently in Elite UK Commercial Fund I.
