Elite Commercial REIT's Upper Huntbach Street, Stoke on Trent. (Image: Google Maps)

Elite Commercial REIT has reported a distribution per unit (DPU) of 0.74 pence for the period spanning 6 February to 31 March 2020.

The DPU marginally beats forecasts made during its IPO by 1.4%.

Accordingly, the REIT’s revenue for the period exceeded forecast by 0.7% at GBP3.52 million (USD4.35 million) while income available for distribution was at GBP2.46 million, 1.4% higher than expectations.

Elite Commercial REIT listed on the Singapore Exchange (SGX) in February 2020 with a portfolio of 97 properties across the UK.

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By Shariffa Al-Habshee

Shariffa joined REITsWeek in 2017, and monitors Asia-Pacific REITs for the publication.