No thanks to the war in Ukraine, which drove up energy prices, UK suffered double-digit inflation this past year. Earlier today, on April 19, UK's CPI for March was reported as up 10.1% y-o-y. Analysts had been expecting 9.8%.
Elite Commercial REIT has renewed leases for 134 of its properties that will see its total annual rental income from these properties increase 13% from £31.8 million to £36 million following the revisions.
The rent review, which took effect on April 1, is pegged to the UK consumer price index. The tenant for these properties is the UK government.
