Elite UK REIT’s NPI rise 24.4% YoY to $18m

DPU rose 9.6% to $0.0132.

Elite UK REIT’s net property income (NPI) for Q1 2025 rose 24.4% year-on-year (YoY) to $18m (£10.4m) from $14.2 (£8.3m) a year ago.

Distributable income increased by 10.2% to $8.3m (£4.8m), whilst distribution per unit (DPU) rose 9.6% to $0.0132 (£0.0076).

Revenue for the period also rose 0.6% YoY to $16.2 (£9.3m).

The improved financial performance was driven by greater cash efficiency, lower interest expenses, higher rental income from properties, and dilapidation settlement and lease surrender premiums totaling $2.8m (£1.6m).

Positive rental reversions were also recorded during the period at Dallas Court in Salford (+30%), Theatre Buildings in Billingham (+5%), and Ladywell House in Edinburgh (+24%).

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