Feb, 5 2026 – Elite UK REIT announced that it has entered into new lease agreements with the Secretary of State for Housing, Communities and Local Government of the United Kingdom for properties occupied by the Department for Work and Pensions, securing a total annual rent of 24.3 million Singapore dollars.

The new leases, which start in 2028 and run for up to ten years, lift the portfolio’s weighted average lease to expiry to 7.2 years on a pro-forma basis, compared with 2.4 years as at Dec, 31 2025.

Exposure to 2028 lease expiries falls sharply, dropping from 95.7 % to 32.0 % of gross rental income. All leases have no break options and include an annually compounded CPI-linked rent review on Apr, 1 2033, with a floor of 1 % and a cap of 5 %. Similar terms apply if the tenant exercises renewal options of up to five additional years.

Elite UK REIT will provide a one-time capital incentive of about 9.5 million Singapore dollars between 2026 and 2028 to support DWP-led asset enhancement works.

The manager is also progressing redevelopment projects, including converting Lindsay House in Dundee into a 170-bed purpose-built student accommodation facility slated for completion before the 2027 academic year, and exploring similar opportunities for Cambria House in Cardiff and a potential data-centre development at Peel Park in Blackpool.

The trust expects no material impact on its financial performance for the year ended Dec, 31 2025; valuation effects for the year ending Dec, 31 2026 will be announced after re-assessment.

Unitholders and investors are advised to exercise caution when dealing in the units of Elite UK REIT.