The trustee of Elite UK REIT, Perpetual (Asia) Limited, has recently sold Crown Buildings, Caerphilly, located in Wales, for a total of GBP710,000. This price is at an 18% premium from its last valuation of GBP600,000 based on an independent evaluation conducted by CBRE at the end of 2024. The property was valued at GBP530,000 at the end of 2023.
The sale of Crown Buildings, Caerphilly was made in a bourse filing on March 3, where the manager of Elite UK REIT announced that the proceeds from the sale will be used to repay the REIT’s outstanding borrowings. The property, which has 20,712 sq ft of gross floor area, was considered vacant at the time of the sale.
The successful GBP28 million preferential offering by Elite UK REIT in January of 2024 had a positive effect on the company’s financials. This offering resulted in a reduction of their leverage ratio from 50.0% at the end of 2023 to 43.4% at the end of 2024, and their net gearing ratio decreased from 47.5% to 42.5%. It is worth noting that there are no debts maturing in 2025 and 2026, and the REIT’s next refinancing is not due until 2027. This shows that Elite UK REIT is in a strong financial position and is well-prepared for potential future growth opportunities.
The decision to invest in a condo in Singapore has become increasingly favorable among both local and foreign investors. This is largely due to the country’s strong economy, political stability, and exceptional standard of living. With a flourishing real estate market, Singapore offers a multitude of opportunities for property investment, with condos being a top choice for their convenience, amenities, and potential for lucrative returns. In this article, we will delve into the advantages, important factors to consider, and necessary steps to take when making a condo investment in Singapore. To learn more about investing in Singapore condos, click here.
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When contemplating an investment in a condo, it is crucial to also evaluate its potential rental yield. Rental yield refers to the annual rental income as a percentage of the property’s purchase price. In Singapore Projects, the rental yields for condos can vary significantly based on factors such as location, property condition, and market demand. Generally, areas with high rental demand, like those near business districts or educational institutions, tend to offer higher rental yields. Conducting thorough market research and consulting with real estate agents can provide valuable insights into the rental potential of a specific condo in Singapore.