Higher DPU in 1Q 2025
Elite UK REIT reported a 1Q 2025 distribution per unit (DPU) of 0.76 pence, representing a 9.6% year-on-year increase. Revenue rose 0.6% year-on-year, while net property income (NPI) grew 24.4%. Adjusted NPI, excluding one-off lease surrender premiums and dilapidation settlements, increased 4.9% year-on-year. Source: Company data, Beansprout Research
Positive Rent Reversion Supports Income
Revenue growth was underpinned by strong rent reversions, including a 30% uplift at the Salford property and a 24% increase from a medical centre tenant at Ladywell House. Additionally, the REIT benefited from a full-quarter contribution of reversionary rent at Dallas Court. Portfolio occupancy rate was at 93.5% in 1Q 2025, dipping slightly from 93.9% in 4Q 2024. The DPU growth was further supported by lower interest costs during the quarter.
Asset Repositioning in Progress
Elite UK REIT continues to reposition its portfolio for long-term growth. A planning application has been…
