Elite Commercial REIT Gearing Reaches 49.6% Following Drop in Portfolio Valuation

News about Elite Commercial REIT

Elite Commercial REIT latest portfolio valuation saw a sharp drop in value and, as a result, an increase of its gearing level to 49.6%, close to the MAS limit of 50%:

In a business update on Tuesday (Dec 5), the Reit manager reported an adjusted net asset value (NAV) per unit of £0.43, representing a 15.7 per cent drop from £0.51 as at end-September.

With no near-term debt maturity until end-2024, the manager said the Reit remains compliant with all financial covenants under its debt facilities.

Elite Commercial REIT
Price0.255 GBP
NAV0.430 GBP
Yield (4 quarters)12.04%
Gearing47.5%