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Bedell Cristin advises first wholly owned Singaporean listed REIT

16 December 2021

Bedell Cristin are pleased to have advised Elite Commercial REIT ('EliteCReit'), a Singapore listed Real Estate Investment Trust ('REIT') established with the investment strategy to invest directly or indirectly in commercial real estate-related assets in the UK. It is the first and only UK-focused REIT listed on the Singapore Exchange.

The International Stock Exchange ('TISE') has become home to a wholly owned subsidiary of a Singaporean listed REIT allowing it to access the benefits of the UK REIT regime.

Now its subsidiary, Elite UK Commercial Holdings Limited ('ECHL'), has listed ordinary shares on TISE in addition to two bonds which are already admitted to TISE’s Official List. It is entering the UK REIT regime to future-proof the overall tax structure of EliteCReit and provide an improved platform for expansion within the UK market.

Alasdair Hunter, Partner at Bedell Channel Islands Limited, said: “It has been a pleasure to work with EliteCReit and assist them on their expansion within the UK real estate market through this listing on TISE, which allows ECHL to qualify as a UK REIT. At Bedell we are seeing continued strong demand for REIT listings on TISE and, with our experience on working with EliteCReit and other clients, we are well placed to assist in bringing those to market.”

EliteCReit’s portfolio comprises 155 commercial buildings located across the UK valued at an aggregate of £515.3 million. Of the total portfolio, 58 of the properties were acquired on 9 March 2021 during the REIT’s maiden acquisition.  

Published on: 16 December 2021 on the TISE website.  

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Location: Jersey

Related Service: Funds & Investment Structures