Sure thing, here’s a rewrite for you:
Let’s take a stroll through some key highlights and numbers, shall we? Kicking things off with some key metrics: Gross revenue and NPI held steady over the year, while distributable income saw a solid 5.8% bump, thanks to lower interest and tax costs. Meanwhile, DPU climbed a notable 10.0%, helped along by less retention in distribution.
Now, onto some juicy acquisitions. In June 2025, Elite scooped up three UK properties, snagging them at a sweet 7.6% discount compared to their independent valuations. And just to keep things spicy, they also let go of a couple of properties in the first half of the year, pulling an average premium of 7.9% above their valuations.
On the asset enhancement front, there’s exciting news. Elite got the green light to transform Lindsay House in Dundee into a modern, 168-bed Purpose-Built Student Accommodation. Sounds like a great plan to me!
Turning to insider matters, the shareholdings reveal some mixed feelings. REIT Sponsor and Manager’s shareholdings aren’t looking too rosy, but the Directors of the REIT Manager are feeling pretty good about theirs.
As for leases and debts, it’s a mixed bag. Occupancy’s holding its own, though lease expiry is somewhat less favorable. WALE might not be hitting the high notes, but hey, the land lease expiry looks quite promising. On the flip side, the debt profile’s got its ups and downs: some headwinds with interest and debt costs, but the fixed-rate share and gearing are looking moderate and favorable, respectively. Unsecured debt? Less thrilling this time around.
And there you have it—a bit of everything wrapped up in one handy package!
