Elite Commercial Reit’s portfolio valuation as at Dec 1, 2023, stood at £412.5 million (S$697.1 million) across 150 properties, based on the latest external valuation conducted by CBRE.

While this is 11.2 per cent down from the real estate investment trust’s (Reit) £464.5 million reported portfolio value as at Dec 31, 2022, the manager said it represents a 9.5 per cent decline based on the carrying value of investment properties on a like-for-like comparison of the 150 properties.