Report Date and Broker

• Date: 3 October 2024
• Broker: Maybank Research Pte Ltd

Divestment Announcement
Elite UK REIT has entered into a contract for the sale of Sidlaw House in Dundee. The property is currently vacant, and the sale is part of the REIT’s broader portfolio strategy.

Sale Consideration and Premium
The sale consideration for Sidlaw House is GBP 1.275 million (SGD 2.2 million). This amount represents a 41.7% premium over the property’s valuation of GBP 900,000, based on an independent valuation conducted by CBRE Limited as of June 30.

Use of Sale Proceeds
The net proceeds from the divestment will be used to repay a portion of the REIT’s outstanding borrowings, contributing to the financial management of the company.

Impact on Financials
According to Elite UK REIT, the divestment is not expected to have a material impact on its net asset value (NAV) or distribution per unit (DPU) for the financial year ending December 31.