Elite UK REIT (MXNU) Corporate presentation summary

Portfolio overview

• Social infrastructure assets primarily leased to the UK government, ensuring stable income streams.

• Portfolio valued at £415 million with 99.1% occupancy and 3.8 million sq ft net internal area.

• Weighted average lease expiry of 3.5 years, with nearly all leases on triple net, full repairing and insuring terms.

• 93.9% of gross rental income is derived from UK government tenants.

• Assets are geographically diversified across the UK, mainly in primary city central locations.

Financial performance and returns

• Market capitalisation stands at £175 million with a unit price of £0.295.

• Achieved a 17% total return year-to-date in 2024.

• Portfolio trades at a 24% discount to book value.

• Distribution is paid half-yearly in March and September.

Asset management and strategy

• Ongoing asset repositioning and expansion of investment strategy, targeting value from ~£40 million of assets.

• Focus on alternative uses such as student housing and built-to-rent residential, depending on market conditions.

• Repositioning decisions consider market viability, strategy alignment, opportunity scale, and risk-return profile.

• Assets benefit from proximity to transportation nodes and amenities.