Elite Commercial REIT's primary tenant expands; sponsor acquires 4 UK properties via UK Commercial Fund III

Samantha Chiew
Samantha Chiew9/23/2020 11:17 AM GMT+08  • 4 min read
Elite Commercial REIT's primary tenant expands; sponsor acquires 4 UK properties via UK Commercial Fund III
Elite Partners acquires 4 new UK properties, while its REIT sees its primary tenant expand
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The manager of Elite Commercial REIT announced that its primary tenant – the UK’s Department of Work and Pensions (DWP) – will be expanding its team in light of recent developments in UK.

DWP is actively hiring more staff to work in the REIT’s portfolio, as part of its drive to double the number of Work Coaches countrywide to 27,000. This is due to increased services being provided from the properties by the UK Government to support the economy in times of economic need.

As the DWP increases the number of work coaches employed, there is also an increased need for floor space, for the work to be carried out. The existing space occupied by the DWP will not be sufficient for the higher number of job training and coaching sessions that are to be conducted.

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