Elite UK REIT's NPI dips 0.6% to $46.71m in 9M

Revenue inched up 0.7% whilst distributable income rose 4.8%.

Elite UK REIT’s net property income dipped 0.6% year-on-year (YoY) to $46.71m (£27.26m) in 9M 2026, its latest financial results showed.

Excluding a one-off dilapidation settlement in Q1, core net property income rose 5.2% YoY to £27.3m, Elite UK REIT said in a bourse filing on 2 November.

Revenue inched up 0.7% YoY to $50.61m (£29.54m) from $48.56m (£28.34m) a year earlier. This was thanks to contributions from acquisitions it completed since June 2025 and portfolio management, the REIT said.

Distributable income rose by 4.8% YoY to $26.66m (£15.56m), compared with $25.44m (£14.85m) in 9M 2025.

Net asset value per unit rose 10% to about $0.75 (£0.44). Net gearing ratio declined by 2.7 percentage points (ppt) to 38% as of 30 September, within the REIT’s target of between 35% to 40%.

Borrowing costs are at 4.7% per annum, with 80% of interest rate exposure fixed, the REIT said.

Elite UK REIT secured a £50m sustainability-linked facility in August 2026, which it plans to use to refinance existing loan facilities as well as for general corporate and working capital purposes.

“A key achievement this year has been the significant extension of our lease profile, providing greater income visibility and stability,” said Joshua Liaw, CEO of Elite UK REIT Management Pte Ltd., the manager of Elite UK REIT.

Liaw said that Elite UK REIT is making good progress in its asset repositioning initiatives, including the conversion of Lindsay House into student accommodation.

As of 30 September, Elite UK REIT has 148 properties with a valuation of £488.8m in its portfolio.

(S$1 = £0.58, as of 2 November 2026)

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