Elite UK REIT (SGX:MXNU
) announced that its wholly owned subsidiaries, Elite Gemstones Properties Limited and Elite Amphora Limited, have divested four properties in Wales for GBP6.0 million ($10.35 million) to an unrelated third-party purchaser.
The four properties are: High Street, Swansea; Windsor Road, Neath; Oldway House, Swansea; and Station Road, Port Talbot.
According to the manager, these divested properties are currently occupied by the Department for Work and Pensions (DWP). The four properties have a current accounts valuation of £5.3 million ($9.14 million).
Elite UK REIT states that the net divestment proceeds will be recycled into high quality or high growth opportunities.
Finally, the divestment is not expected to have a material impact on its net asset value for the financial year ending Dec 31, 2026.
As at 9.35am, Units in Elite UK REIT were trading 0.5 pence higher, or 1.61% up at 31.5 pence.
