Elite UK REIT to divest Hilden House in Warrington for $5.56m

The sale represents a 6% premium above its valuation of $5.2m as of 30 June.

Elite UK REIT Management Pte. Ltd., manager of Elite UK REIT, announced that Perpetual (Asia) Limited has entered into a contract of sale to divest Hilden House in Warrington, England, for $5.55m (£3.28m).

According to a bourse filing, the sale consideration represents a 6% premium above its valuation of $5.2m (£3.1m) as of 30 June, based on an independent valuation conducted by CBRE Limited.

Net proceeds from the proposed divestment will be used to repay debt.

The property is currently vacant, and the proposed divestment is not expected to have a material impact on Elite UK REIT’s net asset value and distribution per unit for the financial year ending 31 December 2024.

($1 = £0.59)

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