Elite Commercial REIT IPO Prospectus & Summary

OVERVIEW OF ELITE COMMERCIAL REIT
Elite Commercial REIT is a Singapore real estate investment trust (“REIT”) established with the investment strategy of principally investing, directly or indirectly, in commercial assets and real
estate-related assets in the UK.

Key Objectives
Elite Commercial REIT’s key objectives are to provide Unitholders with regular and stable distributions and to achieve long-term growth in DPU and net asset value (“NAV”) per Unit, while maintaining an appropriate capital structure.

IPO Portfolio
The initial portfolio of Elite Commercial REIT (the “IPO Portfolio”) will comprise 97 quality commercial buildings (the “Properties”) located across the UK, with a total net internal area of approximately 2.6 million square feet and a total site area of approximately 47 hectares. The IPO Portfolio is predominantly freehold. Of the 97 Properties, 96 Properties are freehold Properties and one Property is on a long leasehold tenure expiring on 19 May 2255. The initial portfolio has an aggregate indicative appraised value (“Appraised Value”) of approximately GBP 319.1 million as at 31 August 20191. Over 99.0% of the gross rental income is derived from the current leases with the UK Government via The Secretary of State for Housing, Communities and Local Government (with the Department for Work and Pensions (“DWP”) occupying each Property under a group sharing arrangement). DWP is responsible for welfare, pensions and child maintenance policy. As the UK Government’s biggest public service department, it administers the State Pension and a range of working age, disability and ill health benefits for approximately 20 million claimants and customers.

  • Type = UK Commercial Sector
  • Sponsor = Elite Partners Holdings, Ho Lee Group, Sunway
  • REIT Manager: Elite Commercial REIT Management Pte Ltd
  • Total Unit Offered = 114,686,200
  • Portfolio = 97 commercial buildings across UK
  • Portfolio Size = £319.1 Million
  • IPO Offer Price = £0.68 (S$1.21)
  • NAV per unit = £0.58
  • Price / NAV = 1.1724
  • Distribution Yield = 7.1% (2020), 7.2% (2021)
  • Distribution Policy = 100% for 2020 & 2021. At least 90% thereafter. Semi Annual Payout.
  • Occupancy Rate = 100% (99% Leased to UK Government)
  • WALE = 8.6 Years (Triple Net Leases)
  • Gearing Ratio = c. 33.6%
  • Offer Closing Date: Feb 4, 2020 at 12:00pm
  • Listing Date: Feb 6, 2020
  • Elite Commercial REIT IPO Prospectus

Portfolio Location

 

Sponsor & REIT Manager

Elite Commercial REIT Trust Structure

Elite Commercial REIT Indicative IPO Time Table

 

Compare to other Singapore REIT here.

For REIT Consultation & REIT course, please send email to marubozu@mystocksinvesting.com

Singapore REIT Bubble Charts Jan 2020

Bubble charts derived from Jan 2, 2020 Singapore REITs Fundamental Comparison Table.

(1) Big cap REIT remains expensive and value picks remains at small and medium cap REIT. Note: Distribution yield is lagging.

(2) No significant changes in gearing ratio compared to last Bubble Charts.

 

 

These Bubble Charts are used to show the “relative” position compare to other Singapore REITs.

Two visual bubble charts to pick and avoid:

  1. Undervalue Singapore REITs with High Distribution Yield** (Value Pick)
  2. Overvalue Singapore REITs with High Gearing Ratio (Risk Avoidance)

** Distribution Yield are lagging.

Compared to previous Singapore REIT Bubble Charts here.

 

Disclaimer: The analysis is for Author own use and NOT to be used as Buy / Sell recommendation. Get a proper training on “How to use this Singapore REIT Bubble Charts?” here.

 

 

My next Singapore REIT investing course is planned on April 18, 2020. You can register here. https://mystocksinvesting.com/course/singapore-reits-investing/

If you do not have time to learn all the basic, or you want to kick start your REIT portfolio within 1 month, I can help you to construct a REIT portfolio with a fee.  You can just sit back, relax and wait for the dividend to come it as I will be doing all the job in managing your REIT portfolio. For REIT Portfolio Consultation, please drop me an email marubozu@mystocksinvesting.com

Singapore REIT Price / NAV Range Chart Jan 2020

Singapore REIT Price / NAV Range Chart base on Jan 2, 2020 Singapore REITs Table.

See last Singapore REITs Price/NAV here to see the changes.

 

Disclaimer: This chart is NOT a recommendation to buy or sell. Do NOT use it if you don’t understand how to interpret it.

 

My next Singapore REIT investing course is planned on April 18, 2020. Registration detail can be found at following link. https://mystocksinvesting.com/course/singapore-reits-investing/

 

Check below on other events:

https://mystocksinvesting.com/course/singapore-reits-investing/REITs Investing Course 

https://mystocksinvesting.com/course/private-portfolio-review/REITs Portfolio Advisory 

https://mystocksinvesting.com/events/