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Elite UK Reit expands into the ‘living sector’, but still plays it safe

Elite UK Reit expands into the ‘living sector’, but still plays it safe

By Swedan Margen

Fashion

While the Reit aims to renew most of its UK government leases, it is looking to convert vacant assets into student housing or build-to-rent as an alternative to divesting or re-letting

ELITE UK Reit, the only UK-focused real estate investment trust (Reit) listed in Singapore, is now expanding into what it calls “living sector” assets – which includes purpose-built student accommodation and build-to-rent residential assets – as it seeks to diversify its government-backed income stream.

The Reit’s portfolio is currently unique in that more than 99 per cent of its real estate assets are leased to the UK government. Its main tenant is the Department for Work and Pensions (DWP), which runs Jobcentre Plus offices that support citizens in finding employment.

This broadened investment strategy beyond commercial assets has spawned a change in name too. The Reit was previously known as Elite Commercial Reit, before it became Elite UK Reit in May this year.

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Originally published by businesstimes.com.sg. Syndicated material does not necessarily reflect the views of Grazia British.

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