Company Announcements

 

30 November 2022

 

Custodian REIT plc

 

(“Custodian REIT” or the “Company”)

 

Disposal of business park office property for £2.8m

 

Custodian REIT (LSE: CREI), which seeks to deliver a strong income return by investing in a diversified portfolio of smaller regional properties across the UK, is pleased to announce the disposal of a 16,941 sq ft office property in Leicester for £2.8m, in line with the most recent valuation.

 

Commenting on the disposal, Richard Shepherd-Cross, Managing Director of Custodian Capital Limited (the Company’s external fund manager), said:

 

“This asset was acquired as part of the Company’s IPO portfolio in 2014.  It has been fully let since, delivering an average yield of 9% per annum but has seen no rental or valuation growth over our period of ownership and this trend is expected to continue.  We expect to invest the sale proceeds in the Company’s remaining assets which have greater prospects for income and capital growth, better supporting the Board’s objective of increasing dividends in a sustainable way and enhancing the portfolio’s environmental credentials.”

 

- Ends -

 

For further information, please contact:

 

Custodian Capital Limited
Richard Shepherd-Cross / Ed Moore / Ian Mattioli MBE	Tel: +44 (0)116 240 8740
	www.custodiancapital.com

 

Numis Securities Limited
Hugh Jonathan	Tel: +44 (0)20 7260 1000
	www.numiscorp.com

 

FTI Consulting
Richard Sunderland / Ellie Sweeney	Tel: +44 (0)20 3727 1000
	custodianreit@fticonsulting.com

 

Notes to Editors

 

Custodian REIT is a UK real estate investment trust with a portfolio comprising properties predominantly let to institutional grade tenants throughout the UK, principally characterised by properties with individual values of less than £15m at acquisition.

 

The Company offers investors the opportunity to access a diversified portfolio of UK commercial real estate through a closed-ended fund.  By principally targeting sub £15m lot size, regional properties, the Company intends to provide investors with an attractive level of income and the potential for capital growth, becoming the REIT of choice for private and institutional investors seeking high and stable dividends from well-diversified UK real estate.

 

Custodian Capital Limited is the discretionary investment manager of the Company. 

 

For more information visit www.custodianreit.com and www.custodiancapital.com.