Elite UK REIT said its unitholders have approved all resolutions at the extraordinary general meeting held on Aug, 06 2026 at the Rendezvous Hotel Singapore.
The meeting endorsed:
• The £31.9 million acquisition of five government-leased properties across the United Kingdom from Elite Voyager Limited and Elite Crest Limited. The assets, which include the HM Revenue & Customs-let Queensway House in East Kilbride (lease expiry Apr, 01 2047), will be managed by Elite Real Estate Services UK Ltd.
• The issuance of up to 30.1 million new units, priced at £0.296 each, to Elite UK Commercial Fund III as part-payment for the purchase consideration.
Both ordinary resolutions were inter-conditional and secured strong support, passing with approval rates of 92.20% and 91.56%, respectively.
Parties related to Elite Partners Holdings and other interested persons abstained from voting.
Elite UK REIT’s management said the acquisition will lengthen the portfolio’s weighted average lease expiry to about 13 years for the new assets, while overall portfolio WALE remains around seven years. Financing for the transaction is on a floating-rate basis, with 92% of the REIT’s total borrowings hedged as at Mar, 31 2026.
The manager reiterated that rental income from the UK government-backed tenants, many on Consumer Price Index-linked leases, provides income stability. No perpetual debt is currently outstanding, and the acquisition fee payable to the manager will be taken in units, in line with Monetary Authority of Singapore regulations governing interested-person transactions.
The meeting concluded without further business.