Perpetual (Asia) Limited, the trustee of Elite UK REIT, has recently sold Crown Buildings, Caerphilly at Claude Road, Caerphilly for GBP710,000 ($1.2 million). The transaction was completed at an 18% premium, according to a March 3 bourse filing by the manager of Elite UK REIT.
The vacant property, which is located in Wales, was valued at GBP600,000 at the end of 2024 based on an independent valuation conducted by CBRE. The value of the property was previously estimated at GBP530,000 at the end of 2023.
The net proceeds from the sale of Crown Buildings, Caerphilly will be used to repay Elite UK REIT’s outstanding borrowings. According to the REIT’s website, the property has a total gross floor area of 20,712 square feet.
The successful preferential offering of GBP28 million in January 2024 has enabled Elite UK REIT to reduce its leverage ratio from 50.0% at the end of 2023 to 43.4% at the end of 2024. The net gearing ratio also decreased from 47.5% to 42.5% during the same period.
Fortunately, there is no debt maturing in 2025 and 2026, and the REIT’s refinancing is only due in 2027. This provides Elite UK REIT with a stable financial standing for the coming years.
Nestled in the prestigious De Souza Avenue, just moments away from the bustling Beauty World Bukit Timah area, stands The Sen Condo by SL Capital. This luxurious development offers a serene and exclusive living experience in the heart of Bukit Timah. With its modern and stylish architecture, The Sen boasts a unique blend of urban convenience and tranquil surroundings. Residents can indulge in a variety of top-notch facilities, including a swimming pool, gym, and serene garden spaces. The Sen Condo is the perfect choice for those seeking a sophisticated and elegant lifestyle. Don’t miss the opportunity to make The Sen your dream home. Visit The Sen website now for more information.