Elite UK REIT to Divest UK Property

MT Newswires12-20

Elite UK REIT (SGX:MXNU) entered into a contract sale to divest St Paul's House, Chippenham at Marshfield Road, Chippenham, SN15 1LA for a total consideration of 1.6 million pounds, according to a filing with the Singapore Exchange on Friday.

Net proceeds from the divestment will be used to repay the REIT's debt, while the divestment is not expected to impact the REIT's financial position for the year ending Dec. 31.

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