There are no lease expiries from now till 2028. Lease tenures under the New Lease Agreements have tenures of up to ten years. Following the New Lease Agreements, expiries in 2028 is materially derisked and lowered from 95.7% of gross rental income to 32.0%. The REIT’s portfolio’s WALE also improves to 7.2 years on a pro forma basis as at Dec 31 2025.
Elite UK REIT's manager has announced it has concluded negotiations and entered into new lease agreements with The Secretary of State for Housing, Communities and Local Government of the United Kingdom (the Tenant) for properties occupied by the Department for Work and Pensions (DWP) (New Lease Agreements).
The aggregate annual rent under the New Lease Agreements, prior to subsequent CPI-linked rent reviews, is GBP24.3 million.
