Elite UK REIT (SGX:MXNU) received a planning approval for the conversion of Lindsay House in Dundee, Scotland, into a 168-bed purpose-built student accommodation facility, according to a Thursday filing with the Singapore Exchange.
The manager has signed a development management agreement with Mys to manage the PBSA's development.
Lindsay House will have a gross development value of around 24 million pounds.
Shares of the REIT were up over 1% in recent trading.
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