Elite UK REIT, managed by Perpetual (Asia) Limited, has recently sold Crown Buildings in Caerphilly for GBP710,000, representing an 18% increase from its previous value. The property, which was unoccupied, was valued at GBP600,000 at the end of 2024 based on an independent assessment by CBRE. Located in Wales, the building was valued at GBP530,000 at the end of 2023. The proceeds from the sale will be used to pay off the outstanding debt of Elite UK REIT. According to Elite UK REIT’s website, Crown Buildings has a total gross floor area of 20,712 square feet. Thanks to its successful GBP28 million preferential offering in January 2024, Elite UK REIT was able to reduce its leverage ratio from 50.0% at the end of 2023 to 43.4% at the end of 2024, as well as its net gearing ratio from 47.5% to 42.5%. There is no debt maturing in 2025 and 2026, and refinancing is only expected in 2027.
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