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For the year-end holidays, this year, I took the opportunity to travel to the United Kingdom. Guess what S-REIT has properties in the UK? Elite Commercial REIT (SGX: MXNU)! I visited 2 of their properties on-site: Broadway House, Ealing, London and Glasgow Benefits Centre, Glasgow. This is the link to Elite Commercial REIT's properties.
Do note that I only visited 2 properties. The conclusions drawn in this post cannot accurately represent all 150+ of their other properties.
Check out Elite Commerical REIT's latest overview report at here.
| Glasgow Benefits Centre, Glasgow |
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The first property I visited was the Glasgow Benefits Centre. It is a large, 3-storey building spanning about 200m x 70m. It is located very near the city centre, within a 1km distance. It is also about 600m from one of the Glasgow Subway stations. There are no signs on the building that this is a property of Elite Commercial REIT. However this is also the case for the other property as well. However, there are signs suggesting that this property is an HM Passport Office, with Google Street View suggesting long queues for passport-related services. This goes in line with Elite's majority tenant being the HM Government. |
| Broadway House, Ealing, London |
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The next property seems to be a Job Centre. This property is located in Ealing, about 12km from the city centre. It is in the centre of Ealing, which seems to be a small town within London. There are many shops in the vicinity. A bus stop is located right outside of the building. It seems to me that almost all shops in the vicinity are tenanted, with good footfall in the area. There are many shops, supermarkets and eateries in the area. It looks to be a good location for a hotel. Its location is also a slight distance from the nearest London Underground Station. It is about 1.2km away from Ealing Broadway (with 3 lines), and about 600m away from West Ealing (served by the Elizabeth line). From here, it takes about 30 minutes by train to the centre of London. Stay tuned for the next episode on REITstroll —you won't want to miss it. |
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