Singapore: Elite Partners Capital buys 97 commercial properties in UK for $361m

Singapore: Elite Partners Capital buys 97 commercial properties in UK for $361m

Image from pixabay.

Singapore-based private equity firm Elite Partners Capital announced that it has acquired a portfolio of freehold commercial properties in the UK from local private developer Telereal Trillium for £282.15 million ($361.24 million), it said in a statement on Monday.

The portfolio is said to have the potential for capital gains upon asset enhancement. It comprises 97 freehold offices, 85 per cent of which are located in town centres across the UK, measuring a combined 2.6 million sq ft. About 99.4 per cent of the rental income is secured against the covenant of the UK Secretary of State for Communities and Local Government.

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